Globant S.A. (NYSE:GLOB) Short Interest Update

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

Analysts Set New Price Targets

GLOB has been the topic of a number of recent analyst reports. Susquehanna began coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup raised their price target on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler dropped 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. Finally, Canaccord Genuity Group restated a “hold” rating and set a $205.00 target price on shares of Globant in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.44.

Globant Trading Down 1.6 %

Globant stock opened at $213.48 on Monday. The stock has a 50-day moving average price of $220.21 and a 200 day moving average price of $207.10. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a market cap of $9.20 billion, a PE ratio of 55.74, a P/E/G ratio of 2.26 and a beta of 1.38.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP grew its stake in shares of Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after buying an additional 88,829 shares during the period. JPMorgan Chase & Co. boosted its position in Globant by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after purchasing an additional 153,385 shares during the period. Victory Capital Management Inc. increased its holdings in Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares in the last quarter. Sei Investments Co. raised its position in Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after purchasing an additional 155,112 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after purchasing an additional 161,512 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.