Globant S.A. (NYSE:GLOB) Sees Large Increase in Short Interest

Globant S.A. (NYSE:GLOB - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,290,000 shares, an increase of 18.7% from the February 13th total of 1,930,000 shares. Based on an average daily volume of 659,000 shares, the short-interest ratio is currently 3.5 days. Approximately 5.5% of the company's stock are sold short.

Globant Trading Up 1.2 %

Shares of GLOB traded up $1.59 during mid-day trading on Friday, hitting $130.75. 1,121,132 shares of the company's stock were exchanged, compared to its average volume of 540,908. The firm has a market capitalization of $5.76 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.38 and a beta of 1.47. Globant has a fifty-two week low of $124.53 and a fifty-two week high of $238.32. The business's 50 day moving average is $183.20 and its two-hundred day moving average is $202.90.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, equities research analysts forecast that Globant will post 5.73 earnings per share for the current year.

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Analysts Set New Price Targets

Several equities analysts recently commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. Susquehanna initiated coverage on Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 price objective for the company. Jefferies Financial Group raised their target price on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and upped their price target for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, Piper Sandler dropped their price target on shares of Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $219.71.

Hedge Funds Weigh In On Globant

Large investors have recently bought and sold shares of the company. Wasatch Advisors LP increased its stake in shares of Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider's stock worth $689,553,000 after acquiring an additional 88,829 shares during the period. JPMorgan Chase & Co. boosted its holdings in Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock valued at $551,506,000 after purchasing an additional 203,472 shares in the last quarter. Capital International Investors increased its position in Globant by 13.1% during the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after purchasing an additional 197,064 shares during the period. Victory Capital Management Inc. raised its stake in shares of Globant by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock worth $344,382,000 after buying an additional 96,257 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider's stock worth $172,082,000 after buying an additional 4,970 shares in 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.