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

Globant S.A. (NYSE:GLOB) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 2,310,000 shares, an increase of 11.6% from the December 15th total of 2,070,000 shares. Based on an average daily trading volume, of 438,300 shares, the short-interest ratio is presently 5.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quarry LP boosted its holdings 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 in the last quarter. ORG Partners LLC boosted its holdings 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 worth $38,000 after buying an additional 76 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Globant during the 3rd quarter worth approximately $40,000. American National Bank & Trust increased its position 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 buying an additional 185 shares during the last quarter. Finally, Signaturefd LLC raised 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 acquiring an additional 92 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Stock Performance

Shares of NYSE:GLOB traded down $3.40 during mid-day trading on Monday, reaching $213.48. 353,326 shares of the company’s stock were exchanged, compared to its average volume of 310,224. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 55.74, a PEG ratio of 2.26 and a beta of 1.38. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The business’s fifty day moving average price is $220.21 and its 200-day moving average price is $207.10.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GLOB shares. Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Piper Sandler cut their price objective on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. increased their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC lifted their price objective on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and an average target price of $230.44.

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.