Benchmark starts Gloo at Buy, sees ‘massively underserved’ addressable market

As previously reported, Benchmark analyst Daniel Kurnos initiated coverage of Gloo (GLOO) with a Buy rating and $14 price target Gloo’s comprehensive offering for the “faith and flourishing” ecosystem features vertical specific SaaS solutions supported by AI applications with a federated LLM approach, notes the analyst, who sees “a massively underserved and very fragmented” $245B estimated domestic U.S. total addressable market. Revenue could grow by more than 10-times from 2024-2027 and adjusted EBITDA turn positive by Q4 of next year, the analyst added.