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Short-Term Investor Stock GLOB Gains 64.3%

The stock, Globant (GLOB), featured on our 'Short-Term Investor' on November 16, 2018, at an opening price of $51.23. On April 24, 2019, the stock touched an intra-day high of $84.19, representing a gain of 64.3%. On August 1, 2019, the stock touched a new 52-week high of $112.33, and closed Friday's trade at $93.45.

Why we published this stock?

Globant reported better-than-expected Q3 results and issued upbeat 2018 guidance.

Q4, FY Outlook

The company projected Q4 revenues in the range of $138 million - $140 million, implying 20.4% year-over-year growth at the midpoint of the range. Q4 Non-IFRS adjusted EPS was estimated to be in the range of $0.45-$0.49. Wall Street analysts then expected earnings of $0.46 per share on revenue of $136.3 million.

For fiscal 2018, the company expected revenues in the range of $520 million - $522 million, implying 26.0% year-over-year revenues growth at the midpoint of the range; and non-IFRS adjusted EPS in the range of $1.69-$1.73. Analysts then estimated earnings of $1.68 per share and revenue of $515.13 million for 2018.

Q3 Results

The company's Q3 net income was $15.5 million or $0.42 per share compared to $7.9 million or $0.22 per share last year.

Adjusted net income was $16.8 million or $0.46 per share, higher than the prior year's adjusted income of $13.6 million or $0.37 per share.

Revenues for the quarter increased to $134.6 million from $109.7 million generated in the previous year.

Analysts polled by Thomson Reuters expected earnings of $0.44 per share on revenue of $132.6 million for the quarter. Analysts' estimate typically exclude certain special items.

"Third quarter 2018 was another robust quarter for Globant. Our revenues reached a new quarterly record of $134.6 million, with an implied 22.7% year-over-year growth. This solid growth was mainly driven by top 10 accounts, which delivered revenues growth of 37.8% over third quarter of 2017 and 7.9% sequentially," said Martín Migoya, Globant's CEO and co-founder.

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