Intrinsic value of Globant - GLOB

Previous Close

$58.79

  Intrinsic Value

$52.12

stock screener

  Rating & Target

hold

-11%

Previous close

$58.79

 
Intrinsic value

$52.12

 
Up/down potential

-11%

 
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

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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, %
  27.20
  24.98
  22.98
  21.18
  19.57
  18.11
  16.80
  15.62
  14.56
  13.60
  12.74
  11.97
  11.27
  10.64
  10.08
  9.57
  9.11
  8.70
  8.33
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.05
Revenue, $m
  411
  513
  631
  765
  915
  1,081
  1,262
  1,459
  1,672
  1,899
  2,141
  2,397
  2,668
  2,951
  3,249
  3,560
  3,884
  4,222
  4,574
  4,940
  5,320
  5,716
  6,126
  6,553
  6,997
  7,458
  7,938
  8,438
  8,957
  9,499
Variable operating expenses, $m
  255
  317
  388
  468
  558
  658
  767
  886
  1,014
  1,150
  1,288
  1,442
  1,605
  1,775
  1,954
  2,141
  2,337
  2,540
  2,752
  2,972
  3,200
  3,438
  3,685
  3,942
  4,209
  4,486
  4,775
  5,076
  5,388
  5,714
Fixed operating expenses, $m
  75
  76
  78
  80
  81
  83
  85
  87
  89
  91
  93
  95
  97
  99
  101
  103
  106
  108
  110
  113
  115
  118
  120
  123
  126
  129
  131
  134
  137
  140
Total operating expenses, $m
  330
  393
  466
  548
  639
  741
  852
  973
  1,103
  1,241
  1,381
  1,537
  1,702
  1,874
  2,055
  2,244
  2,443
  2,648
  2,862
  3,085
  3,315
  3,556
  3,805
  4,065
  4,335
  4,615
  4,906
  5,210
  5,525
  5,854
Operating income, $m
  81
  120
  166
  217
  275
  340
  410
  487
  569
  658
  760
  860
  966
  1,077
  1,193
  1,315
  1,442
  1,574
  1,712
  1,856
  2,005
  2,160
  2,321
  2,488
  2,662
  2,843
  3,032
  3,228
  3,432
  3,645
EBITDA, $m
  101
  143
  191
  247
  309
  378
  453
  535
  624
  719
  820
  927
  1,040
  1,159
  1,284
  1,414
  1,550
  1,692
  1,840
  1,993
  2,153
  2,319
  2,492
  2,671
  2,857
  3,051
  3,253
  3,463
  3,682
  3,910
Interest expense (income), $m
  0
  19
  33
  49
  67
  88
  111
  137
  165
  196
  229
  264
  302
  342
  384
  428
  474
  522
  573
  625
  680
  737
  796
  858
  922
  988
  1,057
  1,129
  1,203
  1,281
  1,362
Earnings before tax, $m
  62
  88
  117
  150
  187
  228
  273
  322
  374
  429
  496
  559
  624
  693
  766
  841
  920
  1,002
  1,087
  1,175
  1,268
  1,363
  1,463
  1,567
  1,674
  1,786
  1,903
  2,024
  2,151
  2,283
Tax expense, $m
  17
  24
  32
  41
  51
  62
  74
  87
  101
  116
  134
  151
  169
  187
  207
  227
  248
  270
  293
  317
  342
  368
  395
  423
  452
  482
  514
  547
  581
  616
Net income, $m
  46
  64
  86
  110
  137
  167
  199
  235
  273
  313
  362
  408
  456
  506
  559
  614
  671
  731
  793
  858
  925
  995
  1,068
  1,144
  1,222
  1,304
  1,389
  1,478
  1,570
  1,667

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  355
  444
  546
  661
  791
  934
  1,091
  1,261
  1,445
  1,641
  1,851
  2,072
  2,306
  2,551
  2,808
  3,077
  3,357
  3,649
  3,953
  4,270
  4,598
  4,940
  5,295
  5,664
  6,047
  6,446
  6,861
  7,293
  7,742
  8,210
Adjusted assets (=assets-cash), $m
  355
  444
  546
  661
  791
  934
  1,091
  1,261
  1,445
  1,641
  1,851
  2,072
  2,306
  2,551
  2,808
  3,077
  3,357
  3,649
  3,953
  4,270
  4,598
  4,940
  5,295
  5,664
  6,047
  6,446
  6,861
  7,293
  7,742
  8,210
Revenue / Adjusted assets
  1.158
  1.155
  1.156
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
Average production assets, $m
  115
  143
  176
  214
  255
  302
  352
  407
  466
  530
  597
  669
  744
  823
  906
  993
  1,084
  1,178
  1,276
  1,378
  1,484
  1,595
  1,709
  1,828
  1,952
  2,081
  2,215
  2,354
  2,499
  2,650
Working capital, $m
  -7
  -9
  -11
  -13
  -16
  -18
  -21
  -25
  -28
  -32
  -36
  -41
  -45
  -50
  -55
  -61
  -66
  -72
  -78
  -84
  -90
  -97
  -104
  -111
  -119
  -127
  -135
  -143
  -152
  -161
Total debt, $m
  46
  68
  94
  123
  156
  192
  231
  274
  320
  370
  423
  478
  537
  599
  664
  732
  802
  876
  953
  1,032
  1,115
  1,201
  1,291
  1,384
  1,480
  1,581
  1,685
  1,794
  1,907
  2,025
Total liabilities, $m
  89
  112
  138
  167
  199
  235
  275
  318
  364
  414
  466
  522
  581
  643
  708
  775
  846
  920
  996
  1,076
  1,159
  1,245
  1,334
  1,427
  1,524
  1,624
  1,729
  1,838
  1,951
  2,069
Total equity, $m
  266
  332
  408
  495
  592
  699
  816
  943
  1,081
  1,228
  1,384
  1,550
  1,725
  1,908
  2,100
  2,301
  2,511
  2,730
  2,957
  3,194
  3,440
  3,695
  3,961
  4,237
  4,524
  4,822
  5,132
  5,455
  5,791
  6,141
Total liabilities and equity, $m
  355
  444
  546
  662
  791
  934
  1,091
  1,261
  1,445
  1,642
  1,850
  2,072
  2,306
  2,551
  2,808
  3,076
  3,357
  3,650
  3,953
  4,270
  4,599
  4,940
  5,295
  5,664
  6,048
  6,446
  6,861
  7,293
  7,742
  8,210
Debt-to-equity ratio
  0.170
  0.210
  0.230
  0.250
  0.260
  0.270
  0.280
  0.290
  0.300
  0.300
  0.310
  0.310
  0.310
  0.310
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
Adjusted equity ratio
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748
  0.748

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  46
  64
  86
  110
  137
  167
  199
  235
  273
  313
  362
  408
  456
  506
  559
  614
  671
  731
  793
  858
  925
  995
  1,068
  1,144
  1,222
  1,304
  1,389
  1,478
  1,570
  1,667
Depreciation, amort., depletion, $m
  19
  22
  26
  29
  33
  38
  43
  49
  55
  61
  60
  67
  74
  82
  91
  99
  108
  118
  128
  138
  148
  159
  171
  183
  195
  208
  221
  235
  250
  265
Funds from operations, $m
  65
  86
  111
  139
  170
  205
  243
  283
  327
  374
  422
  475
  530
  589
  650
  713
  780
  849
  921
  996
  1,074
  1,155
  1,239
  1,326
  1,417
  1,512
  1,611
  1,713
  1,820
  1,932
Change in working capital, $m
  -1
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -8
  -9
  -9
Cash from operations, $m
  66
  88
  113
  141
  173
  208
  246
  287
  331
  378
  426
  479
  535
  593
  655
  719
  785
  855
  927
  1,002
  1,080
  1,161
  1,246
  1,334
  1,425
  1,520
  1,619
  1,722
  1,829
  1,941
Maintenance CAPEX, $m
  -9
  -11
  -14
  -18
  -21
  -26
  -30
  -35
  -41
  -47
  -53
  -60
  -67
  -74
  -82
  -91
  -99
  -108
  -118
  -128
  -138
  -148
  -159
  -171
  -183
  -195
  -208
  -221
  -235
  -250
New CAPEX, $m
  -25
  -29
  -33
  -37
  -42
  -46
  -51
  -55
  -59
  -63
  -68
  -71
  -75
  -79
  -83
  -87
  -91
  -94
  -98
  -102
  -106
  -110
  -115
  -119
  -124
  -129
  -134
  -139
  -145
  -151
Cash from investing activities, $m
  -34
  -40
  -47
  -55
  -63
  -72
  -81
  -90
  -100
  -110
  -121
  -131
  -142
  -153
  -165
  -178
  -190
  -202
  -216
  -230
  -244
  -258
  -274
  -290
  -307
  -324
  -342
  -360
  -380
  -401
Free cash flow, $m
  33
  48
  66
  86
  110
  136
  165
  197
  231
  268
  306
  348
  393
  440
  489
  541
  595
  652
  711
  772
  836
  903
  972
  1,044
  1,118
  1,196
  1,277
  1,361
  1,449
  1,540
Issuance/(repayment) of debt, $m
  20
  22
  26
  29
  33
  36
  40
  43
  46
  50
  53
  56
  59
  62
  65
  68
  71
  74
  77
  80
  83
  86
  89
  93
  97
  100
  105
  109
  113
  118
Issuance/(repurchase) of shares, $m
  11
  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
Cash from financing (excl. dividends), $m  
  31
  24
  26
  29
  33
  36
  40
  43
  46
  50
  53
  56
  59
  62
  65
  68
  71
  74
  77
  80
  83
  86
  89
  93
  97
  100
  105
  109
  113
  118
Total cash flow (excl. dividends), $m
  63
  73
  91
  116
  142
  172
  204
  239
  277
  318
  358
  404
  451
  502
  554
  609
  666
  726
  788
  852
  919
  989
  1,061
  1,137
  1,215
  1,297
  1,381
  1,470
  1,562
  1,658
Retained Cash Flow (-), $m
  -57
  -66
  -76
  -86
  -97
  -107
  -117
  -127
  -137
  -147
  -156
  -166
  -175
  -184
  -192
  -201
  -210
  -219
  -227
  -237
  -246
  -256
  -266
  -276
  -287
  -298
  -310
  -323
  -336
  -350
Prev. year cash balance distribution, $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 flow adjustment, $m
  4
  5
  6
  7
  8
  10
  12
  14
  16
  18
  21
  24
  26
  29
  32
  36
  39
  43
  46
  50
  54
  59
  63
  67
  72
  77
  82
  87
  93
  99
Cash available for distribution, $m
  7
  6
  15
  29
  46
  65
  87
  112
  140
  171
  202
  238
  277
  318
  362
  408
  456
  507
  560
  616
  673
  733
  796
  861
  928
  998
  1,071
  1,147
  1,226
  1,308
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
  7
  6
  13
  24
  35
  47
  59
  70
  80
  89
  96
  102
  105
  107
  106
  104
  99
  93
  86
  78
  70
  61
  52
  44
  36
  29
  23
  18
  13
  10
Current shareholders' claim on cash, %
  99.5
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4
  99.4

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 56.6
Price to Sales 6.3
Price to Book 9.7
Price to Tangible Book
Price to Cash Flow 65.7
Price to Free Cash Flow 291
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 27.2% 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 62.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $73 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 71.4% 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 1.1%.

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 27.9%.

Life of production assets of 10 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 -1.7%. 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 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 $2.0 billion.

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COMPANY NEWS

▶ [$$] Martin Sorrell Criticizes WPPs Strategy Following His Departure   [Jun-21-18 11:41PM  The Wall Street Journal]
▶ June Best Growth Stocks   [Jun-05-18 12:02PM  Simply Wall St.]
▶ Globant: 1Q Earnings Snapshot   [May-10-18 05:57PM  Associated Press]
▶ Top Growth Stocks To Buy Now   [Apr-21-18 12:02PM  Simply Wall St.]
▶ Globant Files Annual Report for 2017   [Apr-16-18 04:45PM  PR Newswire]
▶ Globant Launches Its Media Over-the-Top (OTT) Studio   [Apr-06-18 10:00AM  PR Newswire]
▶ 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]
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