Gloo (NASDAQ:GLOO) Given Market Outperform Rating at Citizens Jmp

Gloo (NASDAQ:GLOO)‘s stock had its “market outperform” rating restated by analysts at Citizens Jmp in a report issued on Thursday, Benzinga reports. They presently have a $8.00 target price on the stock. Citizens Jmp’s price objective points to a potential upside of 163.59% from the company’s previous close.

Several other equities research analysts also recently issued reports on GLOO. Wall Street Zen upgraded shares of Gloo from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Lake Street Capital set a $8.00 price objective on shares of Gloo in a research note on Thursday. Citigroup initiated coverage on Gloo in a research note on Monday, July 20th. They issued an “outperform” rating on the stock. Weiss Ratings raised shares of Gloo from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, Benchmark raised their price objective on shares of Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Gloo Stock Down 3.7%

Gloo stock traded down $0.12 during mid-day trading on Thursday, reaching $3.04. The stock had a trading volume of 189,383 shares, compared to its average volume of 156,543. The company has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $4.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.91. The company has a market capitalization of $249.20 million and a price-to-earnings ratio of -0.53. Gloo has a one year low of $2.90 and a one year high of $9.98.

Gloo (NASDAQ:GLOO) last announced its earnings results on Wednesday, September 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.14). The company had revenue of $46.57 million during the quarter. On average, analysts expect that Gloo will post -0.28 EPS for the current fiscal year.

Insider Transactions at Gloo

In related news, CEO Scott Beck bought 1,076,923 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were acquired at an average cost of $3.25 per share, for a total transaction of $3,499,999.75. Following the acquisition, the chief executive officer owned 1,523,309 shares in the company, valued at $4,950,754.25. This represents a 241.25% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Derek Green purchased 615,384 shares of the company’s stock in a transaction on Friday, July 10th. The stock was acquired at an average price of $3.25 per share, for a total transaction of $1,999,998.00. Following the completion of the transaction, the director owned 865,384 shares of the company’s stock, valued at $2,812,498. This represents a 246.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 2,615,383 shares of company stock valued at $8,499,995 and sold 440,300 shares valued at $1,613,762. 45.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gloo

A number of institutional investors have recently added to or reduced their stakes in GLOO. EverSource Wealth Advisors LLC boosted its holdings in Gloo by 263.4% in the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after purchasing an additional 3,996 shares in the last quarter. Waverly Advisors LLC bought a new stake in Gloo during the 1st quarter worth approximately $1,202,000. 1492 Capital Management LLC raised its holdings in shares of Gloo by 5.5% during the first quarter. 1492 Capital Management LLC now owns 301,706 shares of the company’s stock worth $1,451,000 after acquiring an additional 15,824 shares during the period. Cornerstone Management Inc. bought a new stake in shares of Gloo during the 1st quarter valued at about $601,000. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Gloo during the fourth quarter valued at approximately $142,000.

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.