Globant S.A. (NYSE:GLOB) Short Interest Up 11.6% in December

Globant S.A. (NYSE:GLOB) saw a large growth in short interest during the month of 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.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several research reports. Piper Sandler lowered their price target on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC raised their target price on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. TD Cowen boosted their price target on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Susquehanna began coverage on shares of Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Globant presently has an average rating of “Moderate Buy” and an average target price of $230.44.

Hedge Funds Weigh In On Globant

A number of large investors have recently modified their holdings of GLOB. Victory Capital Management Inc. increased its position in Globant by 1,817.5% in the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after purchasing an additional 1,431,112 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Globant by 57.5% in 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 purchasing an additional 161,512 shares during the last quarter. Sei Investments Co. grew its position in shares of Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after buying an additional 155,112 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Globant by 6.9% during 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 buying an additional 153,385 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings 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 valued at $47,450,000 after buying an additional 126,030 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Trading Down 1.6 %

NYSE GLOB traded down $3.40 on Friday, hitting $213.48. 353,326 shares of the company were exchanged, compared to its average volume of 310,224. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The firm has a 50 day moving average of $220.21 and a two-hundred day moving average of $206.88. The company has a market cap 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 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.