Analysts Offer Predictions for Globant SA’s FY2020 Earnings (GLOB)

Globant SA (NYSE:GLOB) – Equities researchers at KeyCorp issued their FY2020 earnings estimates for Globant in a report released on Sunday, February 10th. KeyCorp analyst A. Ramnani expects that the information technology services provider will earn $2.30 per share for the year.

Several other brokerages have also recently commented on GLOB. JPMorgan Chase & Co. reduced their price target on Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, October 24th. Wedbush increased their price target on Globant from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday. SunTrust Banks increased their price target on Globant to $75.00 and gave the company a “buy” rating in a research report on Tuesday, January 29th. Zacks Investment Research cut Globant from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Friday, January 4th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $57.00 price objective on shares of Globant in a research note on Friday, November 30th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $63.50.

Shares of NYSE GLOB opened at $68.40 on Wednesday. Globant has a 52 week low of $43.29 and a 52 week high of $69.90. The company has a market cap of $2.44 billion, a P/E ratio of 77.73 and a beta of 0.96.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, November 15th. The information technology services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Globant had a net margin of 10.53% and a return on equity of 16.03%. The company had revenue of $134.57 million for the quarter, compared to analyst estimates of $132.72 million.

A number of large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp raised its stake in Globant by 15.8% in the fourth quarter. Stifel Financial Corp now owns 22,877 shares of the information technology services provider’s stock valued at $1,294,000 after buying an additional 3,129 shares during the period. Dimensional Fund Advisors LP raised its stake in Globant by 27.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 498,392 shares of the information technology services provider’s stock valued at $28,070,000 after buying an additional 106,241 shares during the period. United Services Automobile Association raised its stake in Globant by 13.9% in the fourth quarter. United Services Automobile Association now owns 40,429 shares of the information technology services provider’s stock valued at $2,277,000 after buying an additional 4,929 shares during the period. Polen Capital Management LLC raised its stake in Globant by 103.7% in the fourth quarter. Polen Capital Management LLC now owns 17,504 shares of the information technology services provider’s stock valued at $986,000 after buying an additional 8,911 shares during the period. Finally, Comgest Global Investors S.A.S. raised its stake in Globant by 24.8% in the fourth quarter. Comgest Global Investors S.A.S. now owns 13,100 shares of the information technology services provider’s stock valued at $738,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 77.45% of the company’s stock.

Globant Company Profile

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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