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

Globant S.A. (NYSE:GLOB) was the recipient of a large growth in short interest in 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 short-interest ratio is currently 5.3 days.

Globant Stock Down 1.6 %

GLOB traded down $3.40 during mid-day trading on Monday, reaching $213.48. 353,326 shares of the company traded hands, compared to its average volume of 310,224. The stock has a market capitalization of $9.20 billion, a P/E ratio of 55.74, a P/E/G ratio of 2.26 and a beta of 1.38. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The company’s fifty day moving average price is $220.21 and its 200-day moving average price is $207.10.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLOB. Scotiabank upped their target price on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Susquehanna assumed coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Citigroup raised their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Piper Sandler dropped their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 price target on shares of Globant in a research note on Monday, November 18th. One equities research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLOB. Victory Capital Management Inc. lifted its holdings in Globant by 1,817.5% during the third 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. Dimensional Fund Advisors LP raised its position in shares of Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after buying an additional 161,512 shares in the last quarter. Sei Investments Co. raised its holdings in Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares during the period. JPMorgan Chase & Co. lifted its stake in Globant by 6.9% in the third 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Globant by 89.9% in the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after purchasing an additional 126,030 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

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.