Wall Street Zen Downgrades Gloo (NASDAQ:GLOO) to Sell

Key Points

• Wall Street Zen downgraded Gloo (NASDAQ:GLOO) from "hold" to sell, and Weiss Ratings also issued a sell, while Roth Mkm still rates it a buy—MarketBeat shows a consensus "Hold" with an average price target of $17.00.
• Gloo missed quarterly EPS expectations, reporting ($0.78) vs. ($0.31) expected but slightly beat revenue at $33.63M vs. $31.98M; the stock opened at $7.99 and was trading up about 8%, within a 1‑year range of $4.63–$9.98.
• Insider and institutional buying: CEO Scott Arthur Beck purchased 27,386 shares at $7.23 (a 6.64% increase in his stake), and hedge funds including Millennium Management and Marshall Wace initiated new positions in the fourth quarter.

Gloo (NASDAQ:GLOO - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Several other research firms have also recently weighed in on GLOO. Weiss Ratings began coverage on Gloo in a report on Thursday, February 12th. They set a "sell (e-)" rating on the stock. Roth Mkm reissued a "buy" rating on shares of Gloo in a report on Thursday, January 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Gloo has a consensus rating of "Hold" and an average price target of $17.00.

Gloo Trading Up 8.0%

NASDAQ GLOO opened at $7.99 on Friday. The company's fifty day moving average price is $5.73. Gloo has a 1-year low of $4.63 and a 1-year high of $9.98.

Gloo (NASDAQ:GLOO - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $31.98 million.

Insiders Place Their Bets

In related news, CEO Scott Arthur Beck bought 27,386 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average cost of $7.23 per share, for a total transaction of $198,000.78. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Gloo

Several institutional investors and hedge funds have recently bought and sold shares of GLOO. Jane Street Group LLC purchased a new position in Gloo during the fourth quarter valued at $82,000. Beacon Pointe Advisors LLC purchased a new position in Gloo during the fourth quarter valued at $142,000. Marshall Wace LLP purchased a new position in Gloo during the fourth quarter valued at $173,000. HRT Financial LP purchased a new position in Gloo during the fourth quarter valued at $179,000. Finally, Millennium Management LLC purchased a new position in Gloo during the fourth quarter valued at $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.

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