Globant S.A. (NYSE:GLOB) Short Interest Down 13.5% in November

by · The Markets Daily

Globant S.A. (NYSE:GLOB – Get Free Report) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 2,250,000 shares, a drop of 13.5% from the October 31st total of 2,600,000 shares. Based on an average daily volume of 431,700 shares, the short-interest ratio is presently 5.2 days.

Institutional Investors Weigh In On Globant

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its holdings in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after purchasing an additional 71 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Globant during the third quarter worth about $40,000. Sanctuary Advisors LLC lifted its position in Globant by 26.2% during the third quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock worth $656,000 after purchasing an additional 688 shares during the period. M&T Bank Corp grew its stake in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares in the last quarter. Finally, Barclays PLC increased its holdings in Globant by 132.9% in the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock valued at $4,467,000 after buying an additional 12,862 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

NYSE:GLOB opened at $227.76 on Friday. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 59.47, a P/E/G ratio of 2.81 and a beta of 1.39. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The firm’s 50-day simple moving average is $214.47 and its 200 day simple moving average is $193.99.

Analyst Ratings Changes

Several research analysts have weighed in on GLOB shares. Deutsche Bank Aktiengesellschaft started coverage on Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target on the stock. Citigroup upped their price target on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Scotiabank boosted their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. KeyCorp raised their target price on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group boosted their price target on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.06.

Check Out Our Latest Stock Analysis on Globant

Globant Company Profile

(Get Free Report)

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.

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