Globant S.A. (NYSE:GLOB) Short Interest Down 10.1% in March

Globant S.A. (NYSE:GLOB) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 953,300 shares, a drop of 10.1% from the March 15th total of 1,060,000 shares. Based on an average daily volume of 475,200 shares, the days-to-cover ratio is presently 2.0 days.

Globant Price Performance

NYSE GLOB traded down $2.17 during trading hours on Wednesday, reaching $183.33. The company’s stock had a trading volume of 274,392 shares, compared to its average volume of 454,148. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 51.08, a P/E/G ratio of 1.43 and a beta of 1.35. Globant has a 1-year low of $135.40 and a 1-year high of $251.50. The company’s 50-day moving average is $212.98 and its two-hundred day moving average is $213.15.

Globant (NYSE:GLOB) last posted its quarterly earnings data 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). The company had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. Equities analysts forecast that Globant will post 5.04 EPS for the current fiscal year.

Analysts Set New Price Targets

GLOB has been the topic of several research reports. Mizuho restated a “buy” rating and set a $279.00 price target (down previously from $283.00) on shares of Globant in a research note on Tuesday, February 20th. UBS Group upped their price target on shares of Globant from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Piper Sandler increased their price objective on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Needham & Company LLC boosted their price objective on shares of Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, KeyCorp increased their target price on Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.59.

Hedge Funds Weigh In On Globant

A number of institutional investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC lifted its position in Globant by 56.4% in the first quarter. Harbour Capital Advisors LLC now owns 1,525 shares of the information technology services provider’s stock valued at $302,000 after buying an additional 550 shares during the last quarter. Matthews International Capital Management LLC lifted its holdings in shares of Globant by 2.8% in the 1st quarter. Matthews International Capital Management LLC now owns 8,859 shares of the information technology services provider’s stock worth $1,789,000 after acquiring an additional 245 shares during the last quarter. 17 Capital Partners LLC acquired a new position in shares of Globant in the 1st quarter worth approximately $686,000. Park Avenue Securities LLC boosted its position in shares of Globant by 10.5% during the 1st quarter. Park Avenue Securities LLC now owns 7,612 shares of the information technology services provider’s stock worth $1,537,000 after purchasing an additional 724 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new stake in Globant in the fourth quarter valued at approximately $450,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.