Short Interest in Globant S.A. (NYSE:GLOB) Rises By 12.6%

Globant S.A. (NYSE:GLOB) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,600,000 shares, an increase of 12.6% from the October 15th total of 2,310,000 shares. Based on an average daily trading volume, of 399,100 shares, the short-interest ratio is presently 6.5 days.

Globant Stock Up 0.4 %

GLOB stock traded up $0.80 during midday trading on Monday, reaching $204.09. The company had a trading volume of 896,133 shares, compared to its average volume of 485,546. The firm has a market capitalization of $8.79 billion, a PE ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39. The stock has a 50 day moving average price of $208.98 and a 200 day moving average price of $191.19. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 7.20% and a return on equity of 11.87%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. Research analysts predict that Globant will post 5.06 EPS for the current year.

Institutional Investors Weigh In On Globant

Hedge funds have recently made changes to their positions in the business. BOKF NA lifted its holdings in Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares during the period. Quarry LP lifted its position in shares of Globant by 529.6% during 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. Ridgewood Investments LLC purchased a new stake in shares of Globant during the second quarter valued at $31,000. ORG Partners LLC boosted its position in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the period. Finally, American National Bank & Trust increased its stake in Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen increased their target price on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group reissued a “hold” rating and set a $205.00 price target on shares of Globant in a research report on Monday. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, StockNews.com cut shares of Globant from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

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.