Wall Street brokerages expect Globant SA (NYSE:GLOB) to post $109.25 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Globant’s earnings, with the highest sales estimate coming in at $110.26 million and the lowest estimate coming in at $108.10 million. Globant reported sales of $87.25 million in the same quarter last year, which indicates a positive year-over-year growth rate of 25.2%. The business is expected to report its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Globant will report full-year sales of $109.25 million for the current year, with estimates ranging from $406.10 million to $408.26 million. For the next fiscal year, analysts anticipate that the business will report sales of $491.50 million per share, with estimates ranging from $488.00 million to $497.25 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Globant.

A number of research firms have commented on GLOB. Zacks Investment Research cut Globant from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $36.00 target price (down from $42.00) on shares of Globant in a report on Friday, November 17th. KeyCorp reiterated a “hold” rating on shares of Globant in a research report on Friday, November 3rd. BidaskClub lowered Globant from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, SunTrust Banks restated a “hold” rating on shares of Globant in a research report on Sunday, October 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $44.83.

Globant (NYSE:GLOB) traded up $0.77 during midday trading on Tuesday, reaching $46.46. The company had a trading volume of 349,300 shares, compared to its average volume of 252,235. The stock has a market capitalization of $1,570.00, a P/E ratio of 58.81 and a beta of 0.83. Globant has a 12 month low of $30.90 and a 12 month high of $47.51.

Several hedge funds have recently modified their holdings of GLOB. Bank of Montreal Can increased its position in shares of Globant by 1,002.4% during the second quarter. Bank of Montreal Can now owns 2,337 shares of the information technology services provider’s stock worth $101,000 after purchasing an additional 2,125 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Globant by 13.1% during the second quarter. JPMorgan Chase & Co. now owns 2,580,601 shares of the information technology services provider’s stock worth $112,101,000 after purchasing an additional 297,985 shares in the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Globant by 4.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 197,577 shares of the information technology services provider’s stock worth $8,583,000 after purchasing an additional 9,000 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Globant by 20.7% during the second quarter. Stephens Investment Management Group LLC now owns 222,074 shares of the information technology services provider’s stock worth $9,647,000 after purchasing an additional 38,054 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Globant by 82.8% during the second quarter. Nationwide Fund Advisors now owns 27,390 shares of the information technology services provider’s stock worth $1,190,000 after purchasing an additional 12,403 shares in the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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Globant Company Profile

Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.

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