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

Globant S.A. (NYSE:GLOB) was the recipient of a large growth in short interest in 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 presently 4.5 days.

Hedge Funds Weigh In On Globant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. 17 Capital Partners LLC raised its holdings in shares of Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after acquiring an additional 55 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Globant by 3.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock worth $432,000 after purchasing an additional 81 shares during the period. Franklin Resources Inc. grew its stake in Globant by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock worth $3,016,000 after purchasing an additional 111 shares during the period. Parkside Financial Bank & Trust grew its stake in Globant by 6.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock worth $352,000 after purchasing an additional 118 shares during the period. Finally, Accent Capital Management LLC purchased a new stake in Globant in the fourth quarter worth $29,000. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GLOB. JPMorgan Chase & Co. lifted their price target on shares of Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Canaccord Genuity Group increased 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. Jefferies Financial Group upped their price objective on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price on the stock. Finally, TD Cowen boosted their price objective on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $222.90.

Globant Trading Down 0.7 %

GLOB stock traded down $1.45 during midday trading on Tuesday, hitting $196.69. The company had a trading volume of 281,380 shares, compared to its average volume of 483,216. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The stock’s 50 day moving average price is $195.27 and its 200 day moving average price is $186.00. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 52.01, a PEG ratio of 2.38 and a beta of 1.40.

Globant (NYSE:GLOB) last announced its earnings results 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. The company had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. Analysts predict that Globant will post 5.02 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.