Globant S.A. (NYSE:GLOB) Sees Significant Increase in Short Interest

Globant S.A. (NYSE:GLOB) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 2,080,000 shares, a growth of 5.6% from the August 31st total of 1,970,000 shares. Based on an average daily trading volume, of 457,300 shares, the days-to-cover ratio is presently 4.5 days.

Institutional Trading of Globant

Several hedge funds have recently bought and sold shares of GLOB. Accent Capital Management LLC bought a new stake in shares of Globant during the fourth quarter worth about $29,000. BOKF NA lifted its holdings in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. Quarry LP grew its holdings in Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC bought a new position in Globant during the 2nd quarter valued at $31,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Globant in the 1st quarter worth $54,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Down 0.7 %

Globant stock traded down $1.45 during trading hours on Tuesday, reaching $196.69. 281,380 shares of the company’s stock were exchanged, compared to its average volume of 483,216. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The firm’s 50 day simple moving average is $195.27 and its 200 day simple moving average is $186.00. The firm has a market capitalization of $8.47 billion, a PE ratio of 52.01, a PEG ratio of 2.38 and a beta of 1.40.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts anticipate that Globant will post 5.02 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $240.00 price objective (up from $238.00) on shares of Globant in a research note on Friday, August 16th. KeyCorp boosted their price target on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Jefferies Financial Group boosted their target price on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $222.90.

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.