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

Gloo (NASDAQ:GLOO) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently issued reports on GLOO. Citizens Jmp initiated coverage on Gloo in a research report on Monday, July 20th. They issued an “outperform” rating and a $8.00 target price on the stock. Benchmark increased their target price on shares of Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Weiss Ratings upgraded shares of Gloo from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Finally, Citigroup began coverage on shares of Gloo in a report on Monday, July 20th. They set an “outperform” rating on the stock. Four analysts have 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 presently has an average rating of “Moderate Buy” and an average target price of $13.33.

Gloo Stock Performance

Shares of GLOO stock opened at $3.10 on Friday. Gloo has a fifty-two week low of $2.94 and a fifty-two week high of $9.98. The stock’s fifty day moving average price is $3.45 and its two-hundred day moving average price is $4.92. 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 cap of $254.54 million and a PE ratio of -0.54.

Gloo (NASDAQ:GLOO) last posted its quarterly earnings results on Monday, June 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The firm had revenue of $41.53 million during the quarter. Equities analysts predict that Gloo will post -0.28 EPS for the current fiscal year.

Insider Transactions at Gloo

In other news, major shareholder Grace & Mercy Foundation, Inc. acquired 923,076 shares of the stock in a transaction dated Thursday, July 9th. The stock was bought at an average price of $3.25 per share, with a total value of $2,999,997.00. Following the completion of the purchase, the insider directly owned 3,423,076 shares of the company’s stock, valued at $11,124,997. This represents a 36.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Derek Green acquired 615,384 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average price of $3.25 per share, with a total value of $1,999,998.00. Following the acquisition, the director owned 865,384 shares in the company, valued at $2,812,498. The trade was a 246.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 2,615,383 shares of company stock valued at $8,499,995 and have sold 461,177 shares valued at $1,710,643. Insiders own 45.23% of the company’s stock.

Hedge Funds Weigh In On Gloo

A number of hedge funds have recently modified their holdings of GLOO. EverSource Wealth Advisors LLC grew its stake in shares of Gloo by 263.4% in the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock worth $27,000 after purchasing an additional 3,996 shares during the last quarter. Jane Street Group LLC bought a new position in Gloo during the 4th quarter worth $82,000. Beacon Pointe Advisors LLC acquired a new position in Gloo during the 4th quarter worth about $142,000. Marshall Wace LLP bought a new stake in shares of Gloo in the 4th quarter valued at about $173,000. Finally, HRT Financial LP acquired a new stake in shares of Gloo in the fourth quarter valued at about $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.