Globant S.A. (NYSE:GLOB – Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,970,000 shares, a drop of 5.7% from the August 15th total of 2,090,000 shares. Based on an average daily volume of 500,900 shares, the short-interest ratio is currently 3.9 days.
Analyst Ratings Changes
A number of research firms have commented on GLOB. Canaccord Genuity Group upped their price target on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Citigroup boosted their price target on shares of Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Mizuho lowered their target price on shares of Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Piper Sandler restated an “overweight” rating and issued a $240.00 price target (up from $238.00) on shares of Globant in a research note on Friday, August 16th. Finally, TD Cowen upped their price objective on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.90.
Check Out Our Latest Stock Analysis on GLOB
Institutional Investors Weigh In On Globant
Globant Price Performance
Shares of Globant stock opened at $191.21 on Thursday. The firm’s fifty day simple moving average is $195.38 and its 200-day simple moving average is $187.28. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 2.49 and a beta of 1.40.
Globant (NYSE:GLOB – Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same period in the previous year, the business posted $1.04 earnings per share. Globant’s quarterly revenue was up 18.1% on a year-over-year basis. Analysts anticipate that Globant will post 5.01 earnings per share for the current year.
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.
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