Gloo (NASDAQ:GLOO) Stock Price Up 8.7% – Here’s Why

Gloo Holdings (NASDAQ:GLOO)’s share price was up 8.7% on Wednesday . The company traded as high as $6.40 and last traded at $6.36. Approximately 47,733 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 58,591 shares. The stock had previously closed at $5.85.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GLOO shares. Roth Mkm reissued a “buy” rating on shares of Gloo in a research report on Thursday, January 29th. Wall Street Zen raised Gloo from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings initiated coverage on Gloo in a research note on Thursday, February 12th. They issued a “sell (e-)” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.00.

Gloo Stock Up 10.9%

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

Institutional Investors Weigh In On Gloo

A number of hedge funds have recently modified their holdings of GLOO. Grace & Mercy Foundation Inc. purchased a new position in Gloo in the fourth quarter valued at approximately $14,225,000. 1492 Capital Management LLC bought a new stake in shares of Gloo in the fourth quarter valued at $1,627,000. Annandale Capital LLC purchased a new position in shares of Gloo during the 4th quarter valued at $1,423,000. Skylands Capital LLC purchased a new stake in Gloo in the 4th quarter worth about $511,000. Finally, Millennium Management LLC bought a new stake in Gloo in the 4th quarter valued at about $402,000.

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.