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

Key Points

• Citizens Jmp initiated coverage on Gloo with an outperform rating and a $8.00 price target, implying about 145% upside from the previous close.
• Other analysts remain mixed: Gloo currently holds a Moderate Buy consensus with an average price target of $13.33, though one recent downgrade to sell was issued.
• Gloo reported a quarterly loss of $0.22 per share, wider than expected, while insiders were active recently with a major shareholder selling shares and the CEO making a large purchase.

Analysts at Citizens Jmp assumed coverage on shares of Gloo (NASDAQ:GLOO - Get Free Report) in a note issued to investors on Monday. The brokerage set an "outperform" rating and a $8.00 price target on the stock. Citizens Jmp's price objective would suggest a potential upside of 144.65% from the stock's previous close.

Several other equities research analysts have also commented on GLOO. Citigroup assumed coverage on shares of Gloo in a research note on Monday. They set an "outperform" rating on the stock. Wall Street Zen downgraded shares of Gloo from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Benchmark raised their price objective on Gloo from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Finally, Weiss Ratings upgraded Gloo from a "sell (e-)" rating to a "sell (e)" rating in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Gloo presently has a consensus rating of "Moderate Buy" and an average price target of $13.33.

Gloo Price Performance

Shares of GLOO opened at $3.27 on Monday. The firm has a market capitalization of $268.50 million and a P/E ratio of -0.57. Gloo has a 52-week low of $2.94 and a 52-week high of $9.98. 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 company has a 50 day simple moving average of $4.76.

Gloo (NASDAQ:GLOO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $41.53 million for the quarter. On average, equities analysts anticipate that Gloo will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at Gloo

In other news, major shareholder Financial For Luthera Thrivent sold 125,000 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $3.08, for a total value of $385,000.00. Following the completion of the sale, the insider directly owned 4,480,000 shares of the company's stock, valued at approximately $13,798,400. This represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Arthur Beck bought 1,076,923 shares of the firm's stock in a transaction dated Friday, July 10th. The shares were acquired at an average price of $3.25 per share, with a total value of $3,499,999.75. Following 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 trade represents a 241.25% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 2,615,383 shares of company stock valued at $8,499,995 and sold 322,477 shares valued at $1,240,866. Insiders own 45.23% of the company's stock.

Hedge Funds Weigh In On Gloo

Several institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in Gloo by 263.4% during 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. Jane Street Group LLC acquired a new position in shares of Gloo in the fourth quarter valued at approximately $82,000. Beacon Pointe Advisors LLC acquired a new position in shares of Gloo in the fourth quarter valued at approximately $142,000. Marshall Wace LLP purchased a new stake in shares of Gloo during the fourth quarter worth approximately $173,000. Finally, HRT Financial LP purchased a new stake in shares of Gloo during the fourth quarter worth approximately $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.