NEW YORK (TheStreet) -- Shares of Globant (GLOB) - Get Globant SA Report were slipping mid-afternoon Thursday on heavy trading volume after the company posted solid 2016 second quarter results, but gave a weak outlook.
After yesterday's closing bell, the Luxembourg-based information technology company said it sees earnings per share of 27 cents to 31 cents on revenue of $80 million to $82 million for the third quarter.
Analysts are modeling earnings of 32 cents per share on revenue of $79.8 million for the current period.
For the second quarter, the company reported adjusted earnings of 29 cents per share, above analysts' estimates of 28 cents per share. Revenue for the quarter was $79.9 million, also higher than expectations of $76.8 million.
In 2016, Globant expects earnings per share in the range of $1.14 and $1.20 on revenue of $318 million to $322 million. Analysts are looking for earnings of $1.16 per share on revenue of $313.5 million for the full year.
About 1.03 million of the company's shares changed hands so far today compared to its average 30-day volume of 199,153 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and expanding profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: GLOB