Short Interest in Globant S.A. (NYSE:GLOB) Expands By 8.9%

Globant S.A. (NYSE:GLOB - Get Free Report) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 2,450,000 shares, an increase of 8.9% from the November 15th total of 2,250,000 shares. Based on an average daily trading volume, of 443,900 shares, the days-to-cover ratio is presently 5.5 days.

Globant Trading Up 3.6 %

NYSE GLOB traded up $7.99 on Tuesday, hitting $226.92. 580,304 shares of the company were exchanged, compared to its average volume of 480,005. The company has a market cap of $9.78 billion, a P/E ratio of 59.25, a P/E/G ratio of 2.72 and a beta of 1.37. The firm has a 50 day moving average of $220.64 and a two-hundred day moving average of $198.74. Globant has a 1-year low of $151.68 and a 1-year high of $251.50.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GLOB shares. Citigroup boosted their price objective on shares of Globant from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Susquehanna began coverage on Globant in a research report on Tuesday. They issued a "positive" rating and a $255.00 price objective for the company. Jefferies Financial Group boosted their price objective on Globant from $235.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, September 9th. Scotiabank raised their target price on Globant from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Globant currently has a consensus rating of "Moderate Buy" and an average target price of $230.44.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLOB. Equitable Trust Co. grew its holdings in Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock valued at $902,000 after purchasing an additional 50 shares during the period. M&T Bank Corp increased its holdings in Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock worth $326,000 after purchasing an additional 60 shares in the last quarter. Franklin Resources Inc. lifted its stake in Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after acquiring an additional 71 shares in the last quarter. ORG Partners LLC lifted its position in shares of 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 purchasing an additional 76 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock valued at $58,000 after buying an additional 92 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.