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

Globant S.A. (NYSE:GLOB - Get Free Report) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,600,000 shares, a growth 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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a report on Thursday, August 22nd. They set a "hold" rating and a $210.00 price target on the stock. Needham & Company LLC increased their price target on shares of Globant from $245.00 to $265.00 and gave the stock a "buy" rating in a report on Friday. Citigroup increased their price objective on shares of Globant from $240.00 to $251.00 and gave the company a "buy" rating in a report on Monday, October 28th. TD Cowen increased their price objective on shares of Globant from $230.00 to $240.00 and gave the company a "buy" rating in a report on Friday. Finally, StockNews.com downgraded shares of Globant from a "hold" rating to a "sell" rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.50.

Globant Trading Up 0.4 %

Globant stock traded up $0.80 during midday trading on Monday, hitting $204.09. 896,133 shares of the stock were exchanged, compared to its average volume of 485,546. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 2.49 and a beta of 1.39. The stock's 50-day simple moving average is $208.98 and its 200 day simple moving average is $191.19.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results 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. Globant had a net margin of 7.20% and a return on equity of 11.87%. The business had revenue of $587.46 million during the quarter, compared to analysts' expectations of $586.72 million. During the same period last year, the business earned $1.04 earnings per share. The business's revenue for the quarter was up 18.1% on a year-over-year basis. Equities analysts anticipate that Globant will post 5.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BOKF NA boosted its stake in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 158 shares during the period. Quarry LP lifted 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 worth $30,000 after acquiring an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new position in Globant in the second quarter worth approximately $31,000. ORG Partners LLC lifted its stake in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 76 shares during the last quarter. Finally, American National Bank & Trust lifted its stake in Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after acquiring an additional 185 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.