Intrinsic value of Globant - GLOB

Previous Close

$51.39

  Intrinsic Value

$60.68

stock screener

  Rating & Target

hold

+18%

Previous close

$51.39

 
Intrinsic value

$60.68

 
Up/down potential

+18%

 
Rating

hold

We calculate the intrinsic value of GLOB stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  27.17
  34.10
  31.19
  28.57
  26.21
  24.09
  22.18
  20.46
  18.92
  17.53
  16.27
  15.15
  14.13
  13.22
  12.40
  11.66
  10.99
  10.39
  9.85
  9.37
  8.93
  8.54
  8.18
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.52
  6.37
Revenue, $m
  323
  433
  568
  731
  922
  1,144
  1,398
  1,684
  2,003
  2,354
  2,737
  3,152
  3,597
  4,072
  4,577
  5,111
  5,672
  6,262
  6,879
  7,523
  8,195
  8,895
  9,623
  10,380
  11,167
  11,984
  12,834
  13,717
  14,635
  15,589
  16,582
Variable operating expenses, $m
 
  357
  467
  598
  753
  933
  1,139
  1,371
  1,629
  1,913
  2,223
  2,552
  2,913
  3,298
  3,707
  4,139
  4,594
  5,071
  5,571
  6,093
  6,637
  7,204
  7,793
  8,406
  9,044
  9,706
  10,394
  11,109
  11,852
  12,625
  13,430
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  273
  357
  467
  598
  753
  933
  1,139
  1,371
  1,629
  1,913
  2,223
  2,552
  2,913
  3,298
  3,707
  4,139
  4,594
  5,071
  5,571
  6,093
  6,637
  7,204
  7,793
  8,406
  9,044
  9,706
  10,394
  11,109
  11,852
  12,625
  13,430
Operating income, $m
  50
  76
  102
  132
  169
  211
  259
  314
  374
  441
  514
  599
  684
  774
  870
  972
  1,078
  1,191
  1,308
  1,430
  1,558
  1,691
  1,830
  1,973
  2,123
  2,278
  2,440
  2,608
  2,782
  2,964
  3,153
EBITDA, $m
  61
  89
  117
  150
  190
  235
  287
  346
  412
  484
  563
  648
  740
  837
  941
  1,051
  1,166
  1,288
  1,414
  1,547
  1,685
  1,829
  1,979
  2,134
  2,296
  2,464
  2,639
  2,820
  3,009
  3,205
  3,410
Interest expense (income), $m
  0
  1
  1
  2
  3
  5
  6
  8
  10
  12
  15
  17
  20
  23
  26
  30
  33
  37
  41
  45
  50
  54
  59
  64
  69
  75
  80
  86
  92
  98
  105
Earnings before tax, $m
  50
  75
  100
  130
  165
  206
  253
  306
  364
  429
  499
  582
  664
  751
  844
  942
  1,045
  1,153
  1,267
  1,385
  1,508
  1,637
  1,770
  1,909
  2,054
  2,204
  2,360
  2,522
  2,690
  2,866
  3,048
Tax expense, $m
  14
  20
  27
  35
  45
  56
  68
  83
  98
  116
  135
  157
  179
  203
  228
  254
  282
  311
  342
  374
  407
  442
  478
  516
  555
  595
  637
  681
  726
  774
  823
Net income, $m
  36
  55
  73
  95
  121
  151
  185
  223
  266
  313
  365
  425
  485
  548
  616
  688
  763
  842
  925
  1,011
  1,101
  1,195
  1,292
  1,394
  1,499
  1,609
  1,723
  1,841
  1,964
  2,092
  2,225

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  61
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  285
  300
  394
  507
  639
  794
  970
  1,168
  1,389
  1,632
  1,898
  2,186
  2,494
  2,824
  3,174
  3,544
  3,934
  4,343
  4,770
  5,217
  5,683
  6,169
  6,673
  7,198
  7,744
  8,311
  8,900
  9,512
  10,149
  10,811
  11,500
Adjusted assets (=assets-cash), $m
  224
  300
  394
  507
  639
  794
  970
  1,168
  1,389
  1,632
  1,898
  2,186
  2,494
  2,824
  3,174
  3,544
  3,934
  4,343
  4,770
  5,217
  5,683
  6,169
  6,673
  7,198
  7,744
  8,311
  8,900
  9,512
  10,149
  10,811
  11,500
Revenue / Adjusted assets
  1.442
  1.443
  1.442
  1.442
  1.443
  1.441
  1.441
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
  1.442
Average production assets, $m
  41
  55
  72
  93
  117
  145
  178
  214
  254
  299
  348
  400
  457
  517
  581
  649
  720
  795
  874
  955
  1,041
  1,130
  1,222
  1,318
  1,418
  1,522
  1,630
  1,742
  1,859
  1,980
  2,106
Working capital, $m
  79
  42
  55
  70
  89
  110
  134
  162
  192
  226
  263
  303
  345
  391
  439
  491
  545
  601
  660
  722
  787
  854
  924
  996
  1,072
  1,150
  1,232
  1,317
  1,405
  1,497
  1,592
Total debt, $m
  32
  40
  67
  98
  136
  179
  228
  284
  346
  415
  489
  570
  657
  750
  848
  952
  1,061
  1,176
  1,296
  1,422
  1,553
  1,689
  1,831
  1,979
  2,132
  2,291
  2,457
  2,629
  2,808
  2,994
  3,187
Total liabilities, $m
  76
  84
  111
  142
  180
  223
  272
  328
  390
  459
  533
  614
  701
  794
  892
  996
  1,105
  1,220
  1,340
  1,466
  1,597
  1,733
  1,875
  2,023
  2,176
  2,335
  2,501
  2,673
  2,852
  3,038
  3,231
Total equity, $m
  209
  216
  283
  364
  460
  571
  697
  840
  999
  1,174
  1,365
  1,571
  1,793
  2,031
  2,282
  2,548
  2,828
  3,122
  3,430
  3,751
  4,086
  4,435
  4,798
  5,176
  5,568
  5,975
  6,399
  6,839
  7,297
  7,773
  8,268
Total liabilities and equity, $m
  285
  300
  394
  506
  640
  794
  969
  1,168
  1,389
  1,633
  1,898
  2,185
  2,494
  2,825
  3,174
  3,544
  3,933
  4,342
  4,770
  5,217
  5,683
  6,168
  6,673
  7,199
  7,744
  8,310
  8,900
  9,512
  10,149
  10,811
  11,499
Debt-to-equity ratio
  0.153
  0.190
  0.240
  0.270
  0.300
  0.310
  0.330
  0.340
  0.350
  0.350
  0.360
  0.360
  0.370
  0.370
  0.370
  0.370
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.390
  0.390
Adjusted equity ratio
  0.661
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719
  0.719

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  36
  55
  73
  95
  121
  151
  185
  223
  266
  313
  365
  425
  485
  548
  616
  688
  763
  842
  925
  1,011
  1,101
  1,195
  1,292
  1,394
  1,499
  1,609
  1,723
  1,841
  1,964
  2,092
  2,225
Depreciation, amort., depletion, $m
  11
  13
  15
  18
  21
  24
  28
  33
  38
  43
  49
  49
  56
  63
  71
  79
  88
  97
  107
  117
  127
  138
  149
  161
  173
  186
  199
  212
  227
  241
  257
Funds from operations, $m
  0
  68
  88
  113
  142
  175
  213
  256
  303
  356
  413
  474
  540
  611
  687
  767
  851
  939
  1,031
  1,128
  1,228
  1,333
  1,441
  1,555
  1,672
  1,794
  1,921
  2,053
  2,191
  2,333
  2,482
Change in working capital, $m
  -31
  11
  13
  16
  18
  21
  24
  27
  31
  34
  37
  40
  43
  46
  48
  51
  54
  57
  59
  62
  65
  67
  70
  73
  76
  78
  82
  85
  88
  92
  95
Cash from operations, $m
  31
  58
  75
  97
  123
  153
  189
  228
  273
  322
  377
  434
  498
  566
  639
  716
  797
  882
  972
  1,066
  1,164
  1,265
  1,372
  1,482
  1,597
  1,716
  1,840
  1,969
  2,103
  2,242
  2,386
Maintenance CAPEX, $m
  0
  -5
  -7
  -9
  -11
  -14
  -18
  -22
  -26
  -31
  -36
  -42
  -49
  -56
  -63
  -71
  -79
  -88
  -97
  -107
  -117
  -127
  -138
  -149
  -161
  -173
  -186
  -199
  -212
  -227
  -241
New CAPEX, $m
  -24
  -14
  -17
  -21
  -24
  -28
  -32
  -36
  -40
  -45
  -49
  -53
  -57
  -60
  -64
  -68
  -71
  -75
  -78
  -82
  -85
  -89
  -92
  -96
  -100
  -104
  -108
  -112
  -117
  -121
  -126
Cash from investing activities, $m
  -28
  -19
  -24
  -30
  -35
  -42
  -50
  -58
  -66
  -76
  -85
  -95
  -106
  -116
  -127
  -139
  -150
  -163
  -175
  -189
  -202
  -216
  -230
  -245
  -261
  -277
  -294
  -311
  -329
  -348
  -367
Free cash flow, $m
  3
  39
  52
  68
  87
  111
  139
  170
  206
  247
  292
  339
  392
  450
  511
  577
  646
  720
  797
  877
  962
  1,050
  1,141
  1,237
  1,336
  1,439
  1,546
  1,658
  1,773
  1,894
  2,019
Issuance/(repayment) of debt, $m
  -1
  21
  26
  32
  37
  43
  49
  56
  62
  68
  75
  81
  87
  93
  98
  104
  109
  115
  120
  126
  131
  136
  142
  147
  153
  159
  166
  172
  179
  186
  194
Issuance/(repurchase) of shares, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  8
  21
  26
  32
  37
  43
  49
  56
  62
  68
  75
  81
  87
  93
  98
  104
  109
  115
  120
  126
  131
  136
  142
  147
  153
  159
  166
  172
  179
  186
  194
Total cash flow (excl. dividends), $m
  14
  60
  78
  99
  125
  154
  188
  226
  268
  315
  366
  420
  479
  542
  610
  681
  756
  835
  917
  1,003
  1,093
  1,186
  1,283
  1,384
  1,489
  1,598
  1,712
  1,830
  1,952
  2,080
  2,212
Retained Cash Flow (-), $m
  -49
  -55
  -67
  -81
  -95
  -111
  -127
  -143
  -159
  -175
  -191
  -207
  -222
  -237
  -252
  -266
  -280
  -294
  -308
  -321
  -335
  -349
  -363
  -377
  -392
  -408
  -424
  -440
  -458
  -476
  -495
Prev. year cash balance distribution, $m
 
  48
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  53
  11
  18
  29
  44
  61
  83
  110
  140
  175
  213
  257
  305
  358
  415
  476
  541
  609
  682
  758
  837
  920
  1,007
  1,097
  1,191
  1,288
  1,390
  1,495
  1,604
  1,717
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  51
  10
  16
  24
  34
  45
  56
  68
  81
  92
  101
  110
  116
  120
  122
  121
  118
  112
  105
  96
  87
  76
  66
  56
  46
  38
  30
  23
  18
  13
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Globant S.A. 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. It builds digital journeys, which consists of different software products, including mobile apps, Web apps, sensors and other software and hardware appliances that work orchestrated by a backend that uses big data and fast data to create a understanding of each consumer and how to act upon each scenario. The Company delivers digital journeys with a comprehensive approach that includes Stay Relevant, which helps its customers stay fit for the future of their industries; Discover, which think and conceive specific digital journeys for each customer; Build, which creates each digital journey leveraging the work of its Studios, its services over platforms and its agile pods methodologies.

FINANCIAL RATIOS  of  Globant (GLOB)

Valuation Ratios
P/E Ratio 49.5
Price to Sales 5.5
Price to Book 8.5
Price to Tangible Book
Price to Cash Flow 57.4
Price to Free Cash Flow 254.4
Growth Rates
Sales Growth Rate 27.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 33.3%
Cap. Spend. - 3 Yr. Gr. Rate 27.9%
Financial Strength
Quick Ratio 5
Current Ratio 0.1
LT Debt to Equity 9.1%
Total Debt to Equity 15.3%
Interest Coverage 0
Management Effectiveness
Return On Assets 14.2%
Ret/ On Assets - 3 Yr. Avg. 16.5%
Return On Total Capital 17%
Ret/ On T. Cap. - 3 Yr. Avg. 20.4%
Return On Equity 19.5%
Return On Equity - 3 Yr. Avg. 22.9%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 40.6%
Gross Margin - 3 Yr. Avg. 38.9%
EBITDA Margin 18.9%
EBITDA Margin - 3 Yr. Avg. 21.2%
Operating Margin 15.5%
Oper. Margin - 3 Yr. Avg. 16.8%
Pre-Tax Margin 15.5%
Pre-Tax Margin - 3 Yr. Avg. 17.4%
Net Profit Margin 11.1%
Net Profit Margin - 3 Yr. Avg. 12.1%
Effective Tax Rate 28%
Eff/ Tax Rate - 3 Yr. Avg. 30.2%
Payout Ratio 0%

GLOB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GLOB stock intrinsic value calculation we used $323 million for the last fiscal year's total revenue generated by Globant. The default revenue input number comes from 2016 income statement of Globant. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GLOB stock valuation model: a) initial revenue growth rate of 34.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for GLOB is calculated based on our internal credit rating of Globant, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Globant.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GLOB stock the variable cost ratio is equal to 83%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GLOB stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Globant.

Corporate tax rate of 27% is the nominal tax rate for Globant. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GLOB stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GLOB are equal to 12.7%.

Life of production assets of 8.2 years is the average useful life of capital assets used in Globant operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GLOB is equal to 9.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $209 million for Globant - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 34.223 million for Globant is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Globant at the current share price and the inputted number of shares is $1.8 billion.

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COMPANY NEWS

▶ Globant tops Street 4Q forecasts   [Feb-15-18 05:43PM  Associated Press]
▶ Globant SA to Host Earnings Call   [12:00PM  ACCESSWIRE]
▶ Globant Clears Technical Benchmark, Hitting 80-Plus RS Rating   [Jan-17-18 03:00AM  Investor's Business Daily]
▶ Globant Hits 80-Plus Relative Strength Rating Benchmark   [Dec-20-17 03:00AM  Investor's Business Daily]
▶ Globant SA Value Analysis (NYSE:GLOB) : November 21, 2017   [Nov-21-17 12:38PM  Capital Cube]
▶ Globant meets 3Q profit forecasts   [Nov-16-17 04:24PM  Associated Press]
▶ Globant SA to Host Earnings Call   [12:00PM  ACCESSWIRE]
▶ Closing Bell Ringer: Wednesday, October 18, 2017   [Oct-18-17 03:59PM  CNBC Videos]
▶ ETFs with exposure to Globant SA : October 12, 2017   [Oct-12-17 10:32AM  Capital Cube]
▶ New Strong Sell Stocks for September 5th   [Sep-05-17 10:08AM  Zacks]
▶ Globant SA Value Analysis (NYSE:GLOB) : August 24, 2017   [Aug-24-17 05:09PM  Capital Cube]
▶ Globant misses 2Q profit forecasts   [Aug-17-17 09:52PM  Associated Press]
▶ Snapchat Isn't Interested in Becoming Facebook   [Aug-09-17 07:00AM  Bloomberg]
▶ New Strong Sell Stocks for July 26th   [Jul-26-17 09:22AM  Zacks]
▶ ETFs with exposure to Globant SA : July 6, 2017   [Jul-06-17 01:53PM  Capital Cube]
▶ New Strong Sell Stocks for June 9th   [Jun-09-17 08:10AM  Zacks]
▶ Globant buys Raleigh's PointSource in deal worth up to $28 million   [Jun-02-17 08:59AM  American City Business Journals]
▶ Globant meets 1Q profit forecasts   [May-18-17 04:24PM  Associated Press]
▶ Globant SA Value Analysis (NYSE:GLOB) : April 28, 2017   [Apr-28-17 04:55PM  Capital Cube]
▶ Globant meets 4Q profit forecasts   [Feb-16-17 05:35PM  Associated Press]
▶ 5 Stocks That Short Sellers Need to Fear   [10:06AM  TheStreet.com]
▶ Do Hedge Funds Love Ladder Capital Corp (LADR)?   [Dec-15-16 02:56PM  at Insider Monkey]
▶ Is Globant SA (GLOB) A Good Stock To Buy?   [Dec-13-16 05:13AM  at Insider Monkey]
▶ Why Shares of Globant SA Are Getting Crushed Today   [Nov-15-16 12:26PM  at Motley Fool]
▶ 3 Internet of Things Stocks You May Be Overlooking   [Oct-28-16 08:48AM  at Motley Fool]
Financial statements of GLOB
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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