Globant (NYSE:GLOB) Issues Q3 2019 Earnings Guidance

Globant (NYSE:GLOB) updated its third quarter 2019 earnings guidance on Thursday. The company provided EPS guidance of $0.57-0.61 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.58. The company issued revenue guidance of $170-172 million, compared to the consensus revenue estimate of $166.24 million.Globant also updated its FY 2019 guidance to $2.19-2.25 EPS.

A number of brokerages have weighed in on GLOB. Citigroup cut shares of Globant from a buy rating to a neutral rating and lifted their price target for the company from $93.00 to $115.00 in a research report on Wednesday, July 17th. Wedbush restated an outperform rating and issued a $90.00 price objective (up previously from $75.00) on shares of Globant in a report on Wednesday, May 8th. Zacks Investment Research cut shares of Globant from a buy rating to a hold rating in a report on Friday, August 9th. Finally, Itau BBA Securities upgraded shares of Globant from a market perform rating to an outperform rating and lifted their price objective for the company from $74.00 to $113.00 in a report on Friday, June 21st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $88.00.

Shares of GLOB stock opened at $96.37 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.29 and a current ratio of 1.69. The stock has a market capitalization of $3.84 billion, a P/E ratio of 69.33 and a beta of 0.84. The company has a 50 day moving average price of $105.85 and a 200 day moving average price of $86.55. Globant has a fifty-two week low of $46.30 and a fifty-two week high of $112.33.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $157.50 million during the quarter, compared to analyst estimates of $157.50 million. Globant had a net margin of 9.77% and a return on equity of 16.35%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. On average, research analysts forecast that Globant will post 1.72 EPS for the current fiscal year.

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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Earnings History and Estimates for Globant (NYSE:GLOB)

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