Gloo (NASDAQ:GLOO) Shares Up 9.2% - What's Next?

Key Points

• Shares jumped 9.2% intraday to about $6.94 (high $6.88) on 64,764 shares traded, roughly 24% below the average session volume.
• Analysts are mixed with a consensus Hold rating and $17 target; the company missed quarterly EPS (‑$0.78 vs. ‑$0.31 expected) but beat revenue estimates ($33.63M vs. $31.98M).
• Insider and institutional buying noted: CEO Scott Arthur Beck purchased 27,386 shares at $7.23 (raising his stake ~6.64%), while several firms initiated small positions in the fourth quarter.

Gloo Holdings (NASDAQ:GLOO - Get Free Report) shares shot up 9.2% during mid-day trading on Friday . The company traded as high as $6.88 and last traded at $6.9440. 64,764 shares traded hands during trading, a decline of 24% from the average session volume of 85,534 shares. The stock had previously closed at $6.36.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GLOO. Roth Mkm restated a "buy" rating on shares of Gloo in a report on Thursday, January 29th. Wall Street Zen upgraded Gloo from a "sell" rating to a "hold" rating in a report on Sunday, April 26th. Finally, Weiss Ratings began coverage on Gloo in a report on Thursday, February 12th. They set a "sell (e-)" rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Gloo currently has a consensus rating of "Hold" and a consensus target price of $17.00.

Gloo Price Performance

The firm's fifty day moving average price is $6.03.

Gloo (NASDAQ:GLOO - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.47). The firm had revenue of $33.63 million during the quarter, compared to analyst estimates of $31.98 million. Equities analysts expect that Gloo Holdings will post -0.31 earnings per share for the current year.

Insider Buying and Selling at Gloo

In other Gloo news, CEO Scott Arthur Beck acquired 27,386 shares of the business's stock in a transaction dated Thursday, April 16th. The shares were acquired at an average price of $7.23 per share, for a total transaction of $198,000.78. Following the acquisition, the chief executive officer directly owned 439,886 shares of the company's stock, valued at approximately $3,180,375.78. This trade represents a 6.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders bought 33,886 shares of company stock worth $249,834.

Institutional Investors Weigh In On Gloo

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in Gloo in the 4th quarter valued at approximately $82,000. Beacon Pointe Advisors LLC bought a new stake in Gloo in the 4th quarter valued at approximately $142,000. Marshall Wace LLP bought a new stake in Gloo in the 4th quarter valued at approximately $173,000. HRT Financial LP bought a new stake in Gloo in the 4th quarter valued at approximately $179,000. Finally, Millennium Management LLC bought a new stake in Gloo in the 4th quarter valued at approximately $402,000.

About Gloo

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.