Gloo (NASDAQ:GLOO) Cut to “Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Gloo (NASDAQ:GLOO – Free Report) from a hold rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the stock. Citigroup started coverage on shares of Gloo in a research note on Monday, July 20th. They issued an “outperform” rating for the company. Benchmark upped their target price on Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Weiss Ratings raised Gloo from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Lake Street Capital lowered their target price on Gloo from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Finally, Citizens Jmp restated a “market outperform” rating and set a $8.00 price target on shares of Gloo in a research report on Thursday, September 10th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Gloo presently has an average rating of “Moderate Buy” and an average target price of $12.00.

View Our Latest Research Report on Gloo

Gloo Stock Performance

NASDAQ:GLOO opened at $3.28 on Friday. The stock has a market cap of $269.32 million and a P/E ratio of -0.45. The firm’s fifty day simple moving average is $3.29 and its 200 day simple moving average is $4.80. Gloo has a twelve month low of $2.90 and a twelve month high of $9.98. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 0.21.

Gloo (NASDAQ:GLOO – Get Free Report) last issued its quarterly earnings data on Wednesday, September 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.14). Gloo had a negative return on equity of 1,637.91% and a negative net margin of 81.35%.The company had revenue of $46.57 million during the quarter. As a group, research analysts predict that Gloo will post -0.65 EPS for the current year.

Insider Buying and Selling at Gloo

In related news, major shareholder Financial For Luthera Thrivent sold 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $3.08, for a total transaction of $385,000.00. Following the completion of the transaction, the insider owned 4,480,000 shares of the company’s stock, valued at $13,798,400. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Derek Green acquired 615,384 shares of Gloo stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average cost of $3.25 per share, with a total value of $1,999,998.00. Following the transaction, the director owned 865,384 shares in the company, valued at $2,812,498. This represents a 246.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 2,615,383 shares of company stock valued at $8,499,995 and have sold 479,700 shares valued at $1,674,001. Insiders own 45.23% of the company’s stock.

Hedge Funds Weigh In On Gloo

Institutional investors and hedge funds have recently modified their holdings of the stock. Grace & Mercy Foundation Inc. purchased a new stake in Gloo during the 4th quarter valued at about $14,225,000. 1492 Capital Management LLC purchased a new position in Gloo in the fourth quarter worth about $1,627,000. Waverly Advisors LLC bought a new position in shares of Gloo in the first quarter worth approximately $1,202,000. Cornerstone Management Inc. purchased a new stake in shares of Gloo during the first quarter valued at approximately $601,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Gloo by 263.4% during the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after buying an additional 3,996 shares during the last quarter.

About Gloo

(Get Free Report)

Gloo is a technology company that provides digital tools and services for faith-based organizations, including churches, ministries and other community-focused groups. Its platform is designed to help organizations build relationships, communicate with members and supporters, and manage engagement through digital channels.

The company’s offerings include customer relationship management capabilities, digital marketing and communications tools, data and analytics services, and technology intended to support ministry operations.

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