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

Globant S.A. (NYSE:GLOB) saw a significant increase in short interest in 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 days-to-cover ratio is currently 4.5 days.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently added to or reduced their stakes in the stock. Accent Capital Management LLC purchased a new stake in shares of Globant during the fourth quarter valued at about $29,000. BOKF NA lifted its position in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 158 shares during the last quarter. Quarry LP boosted its stake in Globant by 529.6% in the second 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 in the last quarter. Ridgewood Investments LLC purchased a new position in Globant in the second quarter worth $31,000. Finally, RiverPark Advisors LLC purchased a new position in Globant in the first quarter worth $54,000. Institutional investors own 91.60% of the company’s stock.

Globant Price Performance

Shares of GLOB stock traded down $1.45 during mid-day trading on Tuesday, hitting $196.69. The 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 P/E ratio of 51.62, a price-to-earnings-growth ratio of 2.38 and a beta of 1.40. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The firm’s 50-day moving average is $195.27 and its two-hundred day moving average is $186.00.

Globant (NYSE:GLOB) last issued its earnings results 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 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 analysts’ expectations of $586.72 million. During the same period in the prior year, the business earned $1.04 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Analysts expect that Globant will post 5.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GLOB shares. Canaccord Genuity Group lifted their price objective on shares of Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. TD Cowen boosted their price objective on Globant from $220.00 to $230.00 and gave the stock a “buy” 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 company a “buy” rating in a research report on Friday, August 16th. Scotiabank lifted their target price on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Finally, Citigroup increased their price target on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus price target of $222.90.

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.