Globant SA (NYSE:GLOB) Short Interest Up 6.9% in January
Globant SA (NYSE:GLOB) was the recipient of a significant growth in short interest in 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 shares of the company are sold short. Based on an average daily trading volume, of 272,000 shares, the short-interest ratio is presently 5.7 days.
GLOB has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Globant from $114.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Zacks Investment Research downgraded shares of Globant from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Citigroup increased their price target on shares of Globant from $113.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. One investment 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 company currently has an average rating of “Buy” and a consensus price target of $106.13.
A number of large investors have recently bought and sold shares of GLOB. Vanguard Group Inc. grew its stake in shares of Globant by 1,306.0% in the 2nd quarter. Vanguard Group Inc. now owns 178,329 shares of the information technology services provider’s stock worth $18,020,000 after buying an additional 165,646 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Globant in the 2nd quarter worth $5,961,000. NEXT Financial Group Inc grew its stake in shares of Globant by 15.3% in the 3rd 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 in the last quarter. WCM Investment Management LLC grew its stake in shares of Globant by 6.0% in the 3rd 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 in the last quarter. Finally, Pinnacle Financial Partners Inc. grew its stake in shares of Globant by 8.5% in the 3rd 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 in the last quarter. Institutional investors own 80.39% of the company’s stock.
Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, November 14th. The information technology services provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.13. The company had revenue of $171.33 million for the quarter, compared to analyst estimates of $171.32 million. The business’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share. Research analysts forecast that Globant will post 1.78 earnings per share for the current year.
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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