Gloo (NASDAQ:GLOO) Trading Up 7.9% – Should You Buy?

Gloo Holdings (NASDAQ:GLOO)’s share price rose 7.9% during trading on Wednesday . The company traded as high as $6.44 and last traded at $6.3350. Approximately 29,256 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 65,176 shares. The stock had previously closed at $5.87.

Wall Street Analysts Forecast Growth

GLOO has been the topic of a number of research analyst reports. Weiss Ratings assumed coverage on shares of Gloo in a research note on Thursday, February 12th. They issued a “sell (e-)” rating on the stock. Wall Street Zen raised shares of Gloo from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Roth Mkm reiterated a “buy” rating on shares of Gloo in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.00.

Gloo Stock Performance

Gloo (NASDAQ:GLOO) last announced its earnings results on Tuesday, December 23rd. The company reported ($6.08) earnings per share (EPS) for the quarter. The business had revenue of $32.55 million for the quarter.

Institutional Investors Weigh In On Gloo

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new stake in shares of Gloo in the fourth quarter valued at about $82,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Gloo during the 4th quarter valued at approximately $142,000. Marshall Wace LLP acquired a new position in Gloo in the fourth quarter valued at approximately $173,000. HRT Financial LP purchased a new position in Gloo in the fourth quarter worth approximately $179,000. Finally, Millennium Management LLC acquired a new stake in Gloo during the fourth quarter worth $402,000.

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.