Globant SA (NYSE:GLOB) Short Interest Up 6.9% in January

Globant SA (NYSE:GLOB) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,550,000 shares, a growth of 6.9% from the January 15th total of 1,450,000 shares. Currently, 4.4% of the company’s stock are sold short. Based on an average trading volume of 272,000 shares, the days-to-cover ratio is presently 5.7 days.

NYSE:GLOB traded up $1.90 during trading hours on Friday, reaching $127.98. 189,550 shares of the stock were exchanged. The business has a 50-day moving average of $117.71 and a two-hundred day moving average of $103.19. Globant has a twelve month low of $67.60 and a twelve month high of $131.00.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 14th. The information technology services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.13. The firm had revenue of $171.33 million for the quarter, compared to analyst estimates of $171.32 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, sell-side analysts expect that Globant will post 1.78 EPS for the current fiscal year.

A number of research analysts have recently issued reports on GLOB shares. Citigroup lifted their price target on Globant from $113.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. KeyCorp lifted their price target on Globant from $114.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Zacks Investment Research downgraded Globant from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $106.13.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Globant by 1,306.0% during the second quarter. Vanguard Group Inc. now owns 178,329 shares of the information technology services provider’s stock worth $18,020,000 after purchasing an additional 165,646 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Globant during the second quarter worth about $5,961,000. NEXT Financial Group Inc grew its holdings in shares of Globant by 15.3% during the third quarter. NEXT Financial Group Inc now owns 1,569 shares of the information technology services provider’s stock worth $144,000 after buying an additional 208 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Globant by 6.0% during the third quarter. WCM Investment Management LLC now owns 29,969 shares of the information technology services provider’s stock worth $2,745,000 after buying an additional 1,705 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. grew its holdings in shares of Globant by 8.5% during the third quarter. Pinnacle Financial Partners Inc. now owns 2,481 shares of the information technology services provider’s stock worth $227,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Globant Company Profile

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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