Globant S.A. (NYSE:GLOB) Short Interest Update

Globant S.A. (NYSE:GLOB) was the target of a significant growth in short interest during the month of 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 trading volume of 457,300 shares, the short-interest ratio is currently 4.5 days.

Globant Trading Down 0.7 %

GLOB traded down $1.45 during trading on Tuesday, hitting $196.69. The company’s stock had a trading volume of 281,380 shares, compared to its average volume of 483,216. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 51.62, a P/E/G ratio of 2.38 and a beta of 1.40. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The business’s fifty day simple moving average is $195.27 and its 200 day simple moving average is $186.00.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same period in the previous year, the firm posted $1.04 EPS. Globant’s revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts forecast that Globant will post 5.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Scotiabank increased their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Finally, StockNews.com cut shares of Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average target price of $222.90.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLOB. Accent Capital Management LLC acquired a new stake in Globant during the 4th quarter worth $29,000. BOKF NA lifted its stake 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 worth $32,000 after buying an additional 158 shares in the last quarter. Quarry LP boosted its position 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 acquiring an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Globant during the 2nd quarter valued at about $31,000. Finally, RiverPark Advisors LLC acquired a new stake in Globant in the 1st quarter valued at about $54,000. 91.60% of the stock is owned by institutional investors and hedge funds.

About Globant

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.