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 daily trading volume, of 457,300 shares, the days-to-cover ratio is presently 4.5 days.

Globant Stock Down 0.7 %

Shares of Globant stock opened at $196.69 on Wednesday. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 51.62, a PEG ratio of 2.38 and a beta of 1.40. The business has a 50-day moving average price of $195.40 and a 200-day moving average price of $185.86. Globant has a twelve month low of $151.68 and a twelve month high of $251.50.

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

Wall Street Analysts Forecast Growth

GLOB has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $240.00 price target (up from $238.00) on shares of Globant in a report on Friday, August 16th. Scotiabank upped their price objective on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. KeyCorp upped their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Needham & Company LLC upped their price objective on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Canaccord Genuity Group upped their price objective on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. 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 company’s stock. According to data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and an average price target of $222.90.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Globant during the second quarter valued at about $474,000. Clearbridge Investments LLC lifted its holdings in shares of Globant by 28.4% in the 2nd quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock valued at $60,571,000 after acquiring an additional 75,192 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Globant by 5.9% in the 2nd quarter. Cetera Investment Advisers now owns 21,327 shares of the information technology services provider’s stock valued at $3,802,000 after acquiring an additional 1,187 shares during the last quarter. Quarry LP lifted its holdings in shares of Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 143 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Globant by 89.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock valued at $47,450,000 after acquiring an additional 126,030 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.