Short Interest in Globant S.A. (NYSE:GLOB) Rises By 20.9%

Globant S.A. (NYSE:GLOB - Get Free Report) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 3,010,000 shares, a growth of 20.9% from the April 30th total of 2,490,000 shares. Currently, 7.2% of the company's stock are sold short. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLOB. JPMorgan Chase & Co. boosted its holdings in shares of Globant by 8.6% during 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 acquiring an additional 203,472 shares during the last quarter. Victory Capital Management Inc. raised its stake in Globant by 6.2% in the first quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider's stock worth $200,709,000 after buying an additional 98,863 shares in the last quarter. Capital International Investors boosted its position in Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock valued at $364,723,000 after purchasing an additional 197,064 shares in the last quarter. Royal Bank of Canada grew its position in shares of Globant by 293.5% in the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider's stock worth $117,716,000 after buying an additional 745,848 shares during the last quarter. Finally, Invesco Ltd. grew its position in Globant by 764.3% during the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock worth $111,271,000 after purchasing an additional 835,859 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Mizuho set a $153.00 price target on Globant and gave the company an "outperform" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their price target on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Guggenheim cut their price objective on Globant from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. The Goldman Sachs Group downgraded shares of Globant from a "buy" rating to a "neutral" rating and reduced their price target for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Finally, UBS Group reduced their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and an average price target of $179.19.

Globant Stock Performance

Shares of NYSE:GLOB traded up $1.44 during mid-day trading on Thursday, reaching $99.39. 180,600 shares of the company's stock were exchanged, compared to its average volume of 697,745. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 2.38 and a beta of 1.37. Globant has a twelve month low of $88.03 and a twelve month high of $238.32. The business's fifty day moving average price is $110.99 and its 200-day moving average price is $166.57.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Globant's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 earnings per share. Analysts predict that Globant will post 5.73 EPS for the current fiscal year.

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.