Gloo (NASDAQ:GLOO) Given Market Outperform Rating at Citizens Jmp

Key Points

• Citizens JMP reaffirmed its “market outperform” rating on Gloo and set an $8 price target, implying 163.59% upside from the stock’s $3.04 price. Analysts overall hold a “Moderate Buy” consensus with an average target of $12.
• Gloo shares fell 3.7% to $3.04 after the company reported a quarterly loss of $0.25 per share, missing the $0.11 consensus estimate, while revenue totaled $46.57 million.
• Insiders have been substantial buyers: executives and major shareholders purchased about 2.62 million shares worth $8.5 million over the past 90 days, and insiders own 45.23% of the company.

Gloo (NASDAQ:GLOO - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities research analysts at Citizens Jmp in a research report issued on Thursday, Benzinga reports. They currently have a $8.00 target price on the stock. Citizens Jmp's price objective would suggest a potential upside of 163.59% from the stock's current price.

A number of other research firms also recently weighed in on GLOO. Benchmark upped their price target on Gloo from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Lake Street Capital set a $8.00 price target on shares of Gloo in a research note on Thursday. Citigroup initiated coverage on Gloo in a report on Monday, July 20th. They issued an "outperform" rating for the company. Weiss Ratings upgraded Gloo from a "sell (e)" rating to a "sell (d-)" rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Gloo from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Gloo Trading Down 3.7%

Gloo stock traded down $0.12 during midday trading on Thursday, hitting $3.04. 189,383 shares of the stock were exchanged, compared to its average volume of 156,543. 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 stock's 50-day simple moving average is $3.37 and its 200 day simple moving average is $4.87. The stock has a market capitalization of $249.20 million and a price-to-earnings ratio of -0.53. Gloo has a fifty-two week low of $2.90 and a fifty-two week high of $9.98.

Gloo (NASDAQ:GLOO - Get Free Report) last released its earnings results on Wednesday, September 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.14). The business had revenue of $46.57 million for the quarter. On average, equities analysts anticipate that Gloo will post -0.28 EPS for the current year.

Insider Buying and Selling

In other Gloo news, CEO Scott Beck acquired 1,076,923 shares of Gloo stock in a transaction that occurred on Friday, July 10th. The stock was bought at an average price of $3.25 per share, with a total value of $3,499,999.75. Following the completion of the purchase, the chief executive officer directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Grace & Mercy Foundation, Inc. purchased 923,076 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The shares were purchased at an average price of $3.25 per share, with a total value of $2,999,997.00. Following the completion of the transaction, the insider directly owned 3,423,076 shares of the company's stock, valued at $11,124,997. This represents a 36.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 2,615,383 shares of company stock valued at $8,499,995 and sold 440,300 shares valued at $1,613,762. 45.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Grace & Mercy Foundation Inc. bought a new position in Gloo during the 4th quarter worth about $14,225,000. Cornerstone Management Inc. bought a new stake in Gloo in the first quarter worth approximately $601,000. Waverly Advisors LLC acquired a new position in Gloo during the 1st quarter valued at about $1,202,000. 1492 Capital Management LLC purchased a new position in Gloo in the fourth quarter valued at approximately $1,627,000. Finally, Beacon Pointe Advisors LLC purchased a new position in Gloo in the fourth 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.

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