Gloo (NASDAQ:GLOO) Now Covered by Analysts at Citizens Jmp

Equities researchers at Citizens Jmp started coverage on shares of Gloo (NASDAQ:GLOO) in a report issued on Monday. The firm set an “outperform” rating and a $8.00 price target on the stock. Citizens Jmp’s price objective points to a potential upside of 144.65% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Citigroup initiated coverage on Gloo in a research note on Monday. They set an “outperform” rating for the company. Weiss Ratings raised Gloo from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. Benchmark increased their price objective on Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen downgraded Gloo from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.33.

Gloo Price Performance

Shares of Gloo stock opened at $3.27 on Monday. Gloo has a 52-week low of $2.94 and a 52-week high of $9.98. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $4.76. The firm has a market capitalization of $268.50 million and a price-to-earnings ratio of -0.57.

Gloo (NASDAQ:GLOO) last announced its quarterly earnings data on Monday, June 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The company had revenue of $41.53 million for the quarter. Equities research analysts anticipate that Gloo will post -0.31 EPS for the current year.

Insider Activity at Gloo

In other Gloo news, major shareholder Financial For Luthera Thrivent sold 20,000 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $2.98, for a total transaction of $59,600.00. Following the sale, the insider directly owned 4,460,000 shares in the company, valued at approximately $13,290,800. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Grace & Mercy Foundation, Inc. bought 923,076 shares of the stock in a transaction on Thursday, July 9th. The stock was purchased at an average cost of $3.25 per share, for a total transaction of $2,999,997.00. Following the acquisition, the insider directly owned 3,423,076 shares of the company’s stock, valued at $11,124,997. The trade was a 36.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 2,615,383 shares of company stock valued at $8,499,995 and have sold 322,477 shares valued at $1,240,866. Company insiders own 45.23% of the company’s stock.

Institutional Investors Weigh In On Gloo

Several institutional investors and hedge funds have recently made changes to their positions in GLOO. EverSource Wealth Advisors LLC boosted its position 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 worth $27,000 after buying an additional 3,996 shares in the last quarter. Jane Street Group LLC purchased a new position in Gloo during the 4th quarter valued at about $82,000. Beacon Pointe Advisors LLC acquired a new position in Gloo during the fourth quarter worth about $142,000. Marshall Wace LLP acquired a new position in Gloo during the fourth quarter worth about $173,000. Finally, HRT Financial LP purchased a new stake in shares of Gloo in the fourth quarter valued at about $179,000.

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.