Globant S.A. (NYSE:GLOB) Sees Significant Decrease in Short Interest

Globant S.A. (NYSE:GLOB - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 953,300 shares, a decrease of 10.1% from the March 15th total of 1,060,000 shares. Based on an average trading volume of 475,200 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

A number of brokerages have weighed in on GLOB. Citigroup upped their price target on shares of Globant from $215.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, January 17th. Piper Sandler boosted their price objective on Globant from $257.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. HSBC cut their price objective on Globant from $275.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, April 3rd. Guggenheim initiated coverage on Globant in a report on Tuesday, March 19th. They set a "buy" rating and a $250.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Globant from $266.00 to $275.00 and gave the stock an "overweight" rating in a report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $246.59.

Globant Trading Down 1.4 %

Globant stock traded down $2.65 during mid-day trading on Monday, hitting $189.69. The stock had a trading volume of 291,449 shares, compared to its average volume of 457,608. The stock has a 50-day simple moving average of $215.05 and a two-hundred day simple moving average of $213.30. The stock has a market capitalization of $8.17 billion, a PE ratio of 52.28, a P/E/G ratio of 1.45 and a beta of 1.35. Globant has a 12 month low of $135.40 and a 12 month high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The firm had revenue of $580.71 million during the quarter, compared to the consensus estimate of $579.70 million. Sell-side analysts expect that Globant will post 5.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globant

A number of institutional investors and hedge funds have recently made changes to their positions in GLOB. LM Advisors LLC bought a new stake in Globant in the 4th quarter valued at $27,000. Accent Capital Management LLC bought a new stake in Globant in the 4th quarter valued at $29,000. CI Investments Inc. raised its stake in Globant by 122.0% in the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider's stock valued at $26,000 after acquiring an additional 72 shares during the period. Principal Securities Inc. bought a new stake in Globant in the 4th quarter valued at $56,000. Finally, Advisors Asset Management Inc. bought a new stake in Globant in the 1st quarter valued at $72,000. Institutional investors own 91.60% of the company's stock.

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.