Gloo (NASDAQ:GLOO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Gloo from “sell” to “hold,” while broader analyst sentiment remains “Moderate Buy,” with four Buy ratings and one Sell rating and an average price target of $13.33.
• Gloo shares opened at $3.10, near their 52-week low of $2.94 and well below the $9.98 high. The company reported a quarterly EPS loss of $0.22, missing expectations by $0.06, on revenue of $41.53 million.
• Insiders have been active buyers, acquiring 2.62 million shares worth approximately $8.5 million over the past three months; insiders now own 45.23% of the company.

Gloo (NASDAQ:GLOO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also issued reports on GLOO. Benchmark boosted their target price on Gloo from $14.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Citigroup began coverage on Gloo in a report on Monday, July 20th. They set an "outperform" rating for the company. Weiss Ratings raised shares of Gloo from a "sell (e)" rating to a "sell (d-)" rating in a research note on Wednesday, August 12th. Finally, Citizens Jmp began coverage on shares of Gloo in a research report on Monday, July 20th. They set an "outperform" rating and a $8.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.33.

Gloo Stock Performance

NASDAQ GLOO opened at $3.10 on Friday. The firm has a market cap of $254.54 million and a P/E ratio of -0.54. Gloo has a 52-week low of $2.94 and a 52-week high of $9.98. The business's 50-day moving average price is $3.45 and its 200 day moving average price is $4.92. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.11.

Gloo (NASDAQ:GLOO - Get Free Report) last posted its quarterly earnings data on Monday, June 8th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The business had revenue of $41.53 million during the quarter. On average, equities research analysts expect that Gloo will post -0.28 earnings per share for the current year.

Insider Activity

In related news, major shareholder Grace & Mercy Foundation, Inc. acquired 923,076 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were acquired 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 in the company, valued at approximately $11,124,997. The trade was a 36.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Derek Green purchased 615,384 shares of the business's stock in a transaction on Friday, July 10th. The shares were bought at an average cost of $3.25 per share, for a total transaction of $1,999,998.00. Following the purchase, the director owned 865,384 shares of the company's stock, valued at $2,812,498. This trade represents a 246.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 2,615,383 shares of company stock worth $8,499,995 and sold 461,177 shares worth $1,710,643. Insiders own 45.23% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Grace & Mercy Foundation Inc. purchased a new stake in shares of Gloo during the 4th quarter valued at about $14,225,000. 1492 Capital Management LLC acquired a new position in shares of Gloo during the fourth quarter worth $1,627,000. Waverly Advisors LLC acquired a new position in shares of Gloo during the first quarter worth $1,202,000. Annandale Capital LLC purchased a new position in shares of Gloo in the fourth quarter valued at $1,423,000. Finally, Cornerstone Management Inc. purchased a new position in shares of Gloo in the first quarter valued at $601,000.

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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