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

by · The Cerbat Gem

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

Hedge Funds Weigh In On Globant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its position in Globant by 6.8% in the 1st quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after acquiring an additional 213,049 shares in the last quarter. Capital International Investors lifted its holdings in shares of Globant by 0.5% during the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after buying an additional 6,707 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Globant during the 2nd quarter valued at $99,396,000. Sei Investments Co. lifted its holdings in shares of Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after buying an additional 161,512 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Stock Down 0.7 %

Globant stock opened at $196.69 on Wednesday. The company has a market capitalization of $8.47 billion, a P/E ratio of 51.62, a PEG 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 stock’s 50 day moving average is $195.40 and its 200 day moving average is $185.86.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on GLOB shares. Canaccord Genuity Group boosted their price target on Globant from $175.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Scotiabank boosted their price target on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Needham & Company LLC boosted their price target on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a report on Friday, August 16th. StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Finally, Citigroup upped their target price on Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.90.

Read Our Latest Research Report on GLOB

About Globant

(Get Free Report)

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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