Gloo (NASDAQ:GLOO) Rating Lowered to “Sell” at Wall Street Zen

Gloo (NASDAQ:GLOO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday, Wall Street Zen reports.

Several other brokerages also recently weighed in on GLOO. Benchmark raised their target price on Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Citizens Jmp reissued a “market outperform” rating and issued a $8.00 price target on shares of Gloo in a report on Thursday, September 10th. Citigroup assumed coverage on Gloo in a research note on Monday, July 20th. They set an “outperform” rating for the company. Weiss Ratings upgraded Gloo from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, Lake Street Capital cut their target price on Gloo from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Gloo currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Gloo Stock Performance

Gloo stock opened at $3.42 on Friday. The stock’s 50-day moving average is $3.30 and its 200-day moving average is $4.82. The company has a market cap of $280.82 million and a price-to-earnings ratio of -0.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.23 and a quick ratio of 1.21. Gloo has a 12 month low of $2.90 and a 12 month high of $9.98.

Gloo (NASDAQ:GLOO) last posted its earnings results on Wednesday, September 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.14). The business had revenue of $46.57 million for the quarter. Gloo had a negative net margin of 81.35% and a negative return on equity of 1,637.91%. Equities analysts anticipate that Gloo will post -0.65 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Derek Green acquired 615,384 shares of Gloo stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average price of $3.25 per share, for a total transaction of $1,999,998.00. Following the transaction, the director directly owned 865,384 shares of the company’s stock, valued at $2,812,498. This trade represents a 246.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Financial For Luthera Thrivent sold 125,000 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $3.08, for a total value of $385,000.00. Following the transaction, the insider owned 4,480,000 shares of the company’s stock, valued at approximately $13,798,400. The trade was a 2.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 2,615,383 shares of company stock valued at $8,499,995 and sold 429,300 shares valued at $1,515,505. 45.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gloo

Several hedge funds and other institutional investors have recently modified their holdings of GLOO. Grace & Mercy Foundation Inc. bought a new position in Gloo in the 4th quarter worth about $14,225,000. 1492 Capital Management LLC bought a new stake in shares of Gloo during the fourth quarter valued at approximately $1,627,000. Waverly Advisors LLC acquired a new position in shares of Gloo during the first quarter worth approximately $1,202,000. Cornerstone Management Inc. acquired a new position in shares of Gloo during the first quarter worth approximately $601,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Gloo by 263.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock worth $27,000 after buying an additional 3,996 shares in the last quarter.

Gloo Company Profile

Gloo is a technology company that provides digital tools and services for faith-based organizations, including churches, ministries and other community-focused groups. Its platform is designed to help organizations build relationships, communicate with members and supporters, and manage engagement through digital channels.

The company’s offerings include customer relationship management capabilities, digital marketing and communications tools, data and analytics services, and technology intended to support ministry operations.