Gloo (NASDAQ:GLOO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Gloo (NASDAQ:GLOO) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the company. Citigroup began coverage on Gloo in a research note on Monday, July 20th. They issued an “outperform” rating for the company. Benchmark raised their target price on shares of Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Citizens Jmp initiated coverage on shares of Gloo in a research report on Monday, July 20th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Weiss Ratings raised shares of Gloo from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Gloo Price Performance

Gloo stock opened at $3.10 on Friday. The firm has a market cap of $254.54 million and a PE ratio of -0.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.91. The stock’s fifty day moving average price is $3.45 and its two-hundred day moving average price is $4.92. Gloo has a one year low of $2.94 and a one year high of $9.98.

Gloo (NASDAQ:GLOO) last released its earnings results on Monday, June 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The firm had revenue of $41.53 million during the quarter. As a group, research analysts expect that Gloo will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gloo news, Director Derek Green bought 615,384 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were purchased at an average price of $3.25 per share, for a total transaction of $1,999,998.00. Following the completion of the transaction, the director directly owned 865,384 shares in the company, valued at approximately $2,812,498. The trade was a 246.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Scott Beck bought 1,076,923 shares of the stock in a transaction on Friday, July 10th. The shares were acquired at an average cost of $3.25 per share, with a total value of $3,499,999.75. Following the purchase, the chief executive officer owned 1,523,309 shares of the company’s stock, valued at approximately $4,950,754.25. This represents a 241.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 2,615,383 shares of company stock valued at $8,499,995 and sold 461,177 shares valued at $1,710,643. 45.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gloo

A number of institutional investors have recently added to or reduced their stakes in GLOO. EverSource Wealth Advisors LLC lifted its stake in shares of Gloo by 263.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after acquiring an additional 3,996 shares during the last quarter. Waverly Advisors LLC bought a new position in Gloo in the 1st quarter valued at approximately $1,202,000. 1492 Capital Management LLC boosted its position in Gloo by 5.5% during the 1st quarter. 1492 Capital Management LLC now owns 301,706 shares of the company’s stock worth $1,451,000 after buying an additional 15,824 shares during the period. Cornerstone Management Inc. acquired a new stake in Gloo during the 1st quarter worth approximately $601,000. Finally, Beacon Pointe Advisors LLC bought a new stake in Gloo during the 4th quarter worth approximately $142,000.

Gloo Company Profile

Gloo’s mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives. The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers.