Jefferies Cuts Price Target on Globant (GLOB) to $39 Following 3Q

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Go back to Jefferies Cuts Price Target on Globant (GLOB) to $39 Following 3Q

Globant Acquires L4 to Strengthen its Lead Position in the Digital Services Space

November 14, 2016 4:15 PM EST

SAN FRANCISCO, Nov. 14, 2016 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally native technology services company focused on creating digital journeys, today announced the acquisition of L4, a leading digital services company. With this acquisition, Globant expands its US footprint leveraging L4's presence in Seattle.

This acquisition is aligned with Globant's unique vision of creating digital journeys, which involves the creation of different... More

Globant Reports 2016 Third Quarter Financial Results

November 14, 2016 4:10 PM EST

SAN FRANCISCO, Nov. 14, 2016 /PRNewswire/ -- Globant (NYSE: GLOB), a digitally-native technology services company focused on creating digital journeys, today announced results for the three and nine months ended September 30, 2016.

Third quarter 2016 highlights

Revenue increased to a record $82.4 million, representing 22.7% year-over-year growth. Non-IFRS Adjusted Gross Profit was $34.2 million (41.5% Non-IFRS Adjusted Gross Profit Margin), an increase of $8.0 million compared to $26.2 million (and an increase of 250 basis points compared to 39.0% Non-IFRS Adjusted Gross Profit Margin) in 2015.... More