Globant S.A. (NYSE:GLOB) Short Interest Up 18.7% in February

Globant S.A. (NYSE:GLOB) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,290,000 shares, a growth of 18.7% from the February 13th total of 1,930,000 shares. Based on an average daily trading volume, of 659,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 5.5% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research firms recently commented on GLOB. Jefferies Financial Group boosted their price target on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. Canaccord Genuity Group dropped their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Susquehanna began coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $219.71.

Institutional Investors Weigh In On Globant

A number of hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Globant during the 4th quarter worth $274,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Globant in the 4th quarter worth about $18,828,000. Jefferies Financial Group Inc. increased its holdings in Globant by 5.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 16,400 shares of the information technology services provider’s stock worth $3,516,000 after acquiring an additional 870 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Globant by 163.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 122,500 shares of the information technology services provider’s stock worth $26,266,000 after acquiring an additional 76,000 shares during the last quarter. Finally, Vident Advisory LLC purchased a new stake in Globant in the 4th quarter worth about $235,000. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

NYSE GLOB opened at $128.89 on Friday. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.38 and a beta of 1.47. Globant has a one year low of $124.53 and a one year high of $238.32. The business’s fifty day moving average is $184.75 and its 200-day moving average is $203.34.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Research analysts expect that Globant will post 5.73 EPS for the current fiscal year.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.