Citizens Jmp Initiates Coverage on Gloo (NASDAQ:GLOO)

Analysts at Citizens Jmp started coverage on shares of Gloo (NASDAQ:GLOO) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $8.00 price target on the stock. Citizens Jmp’s price target points to a potential upside of 142.42% from the stock’s current price.

GLOO has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. Citigroup initiated coverage on Gloo in a report on Monday. They set an “outperform” rating for the company. Wall Street Zen cut Gloo from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Benchmark increased their price objective on Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.33.

Gloo Price Performance

GLOO opened at $3.30 on Monday. Gloo has a 12 month low of $2.94 and a 12 month high of $9.98. The firm has a market cap of $270.96 million and a PE ratio of -0.58. 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 business’s fifty day moving average is $4.66.

Gloo (NASDAQ:GLOO) last announced its quarterly earnings data on Monday, June 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The business had revenue of $41.53 million for the quarter. On average, research analysts anticipate that Gloo will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Derek Todd Green bought 615,384 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were acquired at an average price of $3.25 per share, with a total value of $1,999,998.00. Following the completion of the acquisition, the director owned 865,384 shares in the company, valued at approximately $2,812,498. This trade represents a 246.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Arthur Beck purchased 1,076,923 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were bought at an average price of $3.25 per share, with a total value of $3,499,999.75. Following the purchase, the chief executive officer directly owned 1,523,309 shares of the company’s stock, valued at approximately $4,950,754.25. The trade was a 241.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 2,615,383 shares of company stock valued at $8,499,995 and have sold 322,477 shares valued at $1,240,866. 45.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gloo

A number of large investors have recently bought and sold shares of GLOO. EverSource Wealth Advisors LLC lifted its stake in shares of Gloo by 263.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock worth $27,000 after acquiring an additional 3,996 shares during the period. Jane Street Group LLC acquired a new position in shares of Gloo during the fourth quarter worth about $82,000. Beacon Pointe Advisors LLC purchased a new position in Gloo during the fourth quarter worth about $142,000. Marshall Wace LLP purchased a new position in Gloo during the fourth quarter worth about $173,000. Finally, HRT Financial LP acquired a new stake in Gloo in the fourth quarter valued at about $179,000.

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.