Gloo (NASDAQ:GLOO) Earns Outperform Rating from Analysts at Citizens Jmp

Citizens Jmp assumed coverage on shares of Gloo (NASDAQ:GLOO) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $8.00 price target on the stock.

GLOO has been the subject of several other research reports. Benchmark lifted their price target on shares of Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Wall Street Zen lowered shares of Gloo from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings raised shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. Finally, Citigroup assumed coverage on shares of Gloo in a report on Monday. They set an “outperform” rating for the company. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.33.

Gloo Stock Down 0.6%

Gloo stock opened at $3.28 on Monday. The firm has a 50-day moving average price of $4.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.94. The company has a market capitalization of $269.32 million and a PE ratio of -0.57. Gloo has a 12-month low of $2.94 and a 12-month high of $9.98.

Gloo (NASDAQ:GLOO) last announced its quarterly earnings data on Monday, June 8th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The business had revenue of $41.53 million during the quarter. As a group, sell-side analysts expect that Gloo will post -0.31 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Grace & Mercy Foundation, Inc. bought 923,076 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was bought at an average cost of $3.25 per share, for a total transaction of $2,999,997.00. Following the transaction, the insider owned 3,423,076 shares of the company’s stock, valued at $11,124,997. This represents a 36.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Arthur Beck purchased 1,076,923 shares of the stock in a transaction dated Friday, July 10th. The stock was bought at an average cost of $3.25 per share, with a total value of $3,499,999.75. Following the completion of the purchase, the chief executive officer owned 1,523,309 shares in the company, valued at $4,950,754.25. The trade was a 241.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 2,615,383 shares of company stock worth $8,499,995 and have sold 322,477 shares worth $1,240,866. Insiders own 45.23% of the company’s stock.

Institutional Investors Weigh In On Gloo

Hedge funds have recently bought and sold shares of the company. Grace & Mercy Foundation Inc. acquired a new position in shares of Gloo in the 4th quarter valued at $14,225,000. 1492 Capital Management LLC acquired a new stake in Gloo during the 4th quarter worth $1,627,000. Waverly Advisors LLC acquired a new stake in Gloo during the 1st quarter worth $1,202,000. Annandale Capital LLC bought a new position in Gloo during the fourth quarter worth about $1,423,000. Finally, Cornerstone Management Inc. acquired a new position in Gloo in the first quarter valued at about $601,000.

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.