Globant SA (NYSE: GLOB) Update on Short-Term Interest Rates
Globant SA (NYSE: GLOB) saw a significant increase in short-term interest in November. As of November 30, there was short interest totaling 1,320,000 shares, an increase of 32.8% from the total of 994,300 shares as of November 15. Based on an average daily volume of 502,700 shares, the day / hedge ratio is currently 2.6 days. Currently, 3.2% of the company’s shares are sold short.
A number of research companies have commented on GLOB. Zacks Investment Research downgraded Globant from a “buy” rating to a “keep” rating in a Wednesday, November 24th research note. Piper Sandler raised her price target on Globant from $ 300.00 to $ 352.00 and rated the company “overweight” in a report released on Friday, November 19. The Goldman Sachs Group has downgraded Globant from a “neutral” to a “buy” rating and raised its price target for the company from $ 235.00 to $ 395.00 in a report released on Tuesday 21 September. Wedbush raised its price target on Globant from $ 300.00 to $ 330.00 and rated the stock as “outperforming” in a research note on Friday, November 19. Finally, Jefferies Financial Group increased its price target on Globant from $ 290.00 to $ 371.00 and gave the stock a “buy” rating in a research note on Thursday, August 26. One stock research analyst rated the stock with a conservation rating and ten issued a buy rating for the company’s stock. Based on data from MarketBeat.com, Globant has an average rating of “Buy” and an average price target of $ 323.90.
NYSE: GLOB traded up $ 8.23 at midday on Friday, reaching $ 271.88. The company had a trade volume of 553,931 shares, compared to an average volume of 304,118. The company has a fifty-day simple moving average of $ 296.94 and a 200-day simple moving average of $ 273.78 . Globant has a one-year low at $ 188.67 and a one-year high at $ 354.62. The company has a market cap of $ 10.88 billion, a price-to-earnings ratio of 131.34 and a beta of 1.42.
Globant (NYSE: GLOB) last released its quarterly results on Thursday, November 18. The IT service provider reported EPS of $ 0.98 for the quarter, beating the Zacks consensus estimate by $ 0.93 by $ 0.05. The company posted revenue of $ 341.83 million in the quarter, compared to a consensus estimate of $ 326.80 million. Globant reported a return on equity of 10.67% and a net margin of 7.46%. The company’s revenue for the quarter increased 65.0% from the same quarter last year. During the same period last year, the company achieved earnings per share of $ 0.43. As a group, sell-side analysts predict that Globant will post 2.81 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares in the company. Advisor Group Holdings Inc. increased its holdings of Globant shares by 1.3% in the second quarter. Advisor Group Holdings Inc. now owns 15,798 shares of the information technology service provider valued at $ 3,462,000 after acquiring 199 additional shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Globant shares by 5.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 93,958 shares of the IT service provider valued at $ 20,594,000 after purchasing an additional 4,827 shares in the last quarter. Yorktown Management & Research Co Inc increased its position in Globant shares by 64.3% during the second quarter. Yorktown Management & Research Co Inc now owns 2,300 shares of the IT service provider valued at $ 504,000 after purchasing an additional 900 shares in the last quarter. Mckinley Capital Management LLC Delaware increased its position in Globant by 17.8% in the second quarter. Mckinley Capital Management LLC Delaware now owns 16,135 shares of the IT service provider valued at $ 3,536,000 after purchasing 2,433 more shares in the last quarter. Finally, C WorldWide Group Holding AS increased its position in Globant by 10.6% in the second quarter. C WorldWide Group Holding AS now owns 5,200 shares of the IT service provider valued at $ 1,139,000 after purchasing an additional 500 shares in the last quarter. 85.67% of the shares are currently held by institutional investors.
Global Company Profile
Globant SA engages in the provision of IT services. It offers application development and maintenance, testing and infrastructure management. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.
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