Wall Street Zen Upgrades Gloo (NASDAQ:GLOO) to "Hold"

Key Points

• Wall Street Zen upgraded Gloo (NASDAQ:GLOO) from a "sell" to a "hold"; the stock's consensus rating is now "Hold" with a consensus price target of $17.00.
• Q1 results disappointed on earnings: Gloo reported EPS of ($0.78) versus estimates of ($0.31) while revenue of $33.63M slightly beat the $31.98M estimate, and analysts expect FY EPS of -0.31.
• Insider and institutional buying: CEO Scott Beck purchased 27,386 shares at $7.23 (a 6.64% increase to his stake), and several hedge funds including Millennium Management initiated new positions in the fourth quarter.

Gloo (NASDAQ:GLOO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings began coverage on shares of Gloo in a research report on Thursday, February 12th. They set a "sell (e-)" rating for the company. Roth Mkm reiterated a "buy" rating on shares of Gloo in a research report on Thursday, January 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $17.00.

Gloo Stock Performance

Shares of NASDAQ GLOO opened at $6.88 on Friday. Gloo has a 12-month low of $4.63 and a 12-month high of $9.98. The business's fifty day moving average is $5.94.

Gloo (NASDAQ:GLOO - Get Free Report) last announced its earnings results on Tuesday, April 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.47). The business had revenue of $33.63 million for the quarter, compared to analyst estimates of $31.98 million. Equities research analysts predict that Gloo will post -0.31 earnings per share for the current fiscal year.

Insider Activity at Gloo

In other news, CEO Scott Arthur Beck bought 27,386 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average cost of $7.23 per share, with a total value of $198,000.78. Following the completion of the purchase, the chief executive officer directly owned 439,886 shares in the company, valued at $3,180,375.78. This represents a 6.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 33,886 shares of company stock valued at $249,834 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GLOO. Jane Street Group LLC purchased a new position in shares of Gloo in the fourth quarter worth $82,000. Beacon Pointe Advisors LLC purchased a new position in Gloo during the 4th quarter valued at $142,000. Marshall Wace LLP purchased a new position in Gloo during the 4th quarter valued at $173,000. HRT Financial LP purchased a new stake in shares of Gloo in the 4th quarter worth about $179,000. Finally, Millennium Management LLC purchased a new position in shares of Gloo during the fourth quarter valued at about $402,000.

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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