Glu Mobile Inc. (NASDAQ:GLUU) had its target price boosted by research analysts at Mizuho from $2.40 to $2.80 in a report released on Thursday, May 4th. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target suggests a potential upside of 6.87% from the company’s previous close.
A number of other brokerages have also commented on GLUU. Canaccord Genuity restated a “hold” rating and set a $3.00 price objective on shares of Glu Mobile in a report on Friday, February 10th. Roth Capital set a $2.00 price objective on shares of Glu Mobile and gave the stock a “hold” rating in a report on Wednesday, January 11th. Zacks Investment Research upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Wednesday, February 8th. Finally, Wedbush restated a “neutral” rating and set a $2.25 price objective on shares of Glu Mobile in a report on Tuesday, February 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $2.71.
Glu Mobile (NASDAQ:GLUU) traded up 1.16% on Thursday, hitting $2.62. The company’s stock had a trading volume of 6,558,255 shares. Glu Mobile has a 1-year low of $1.73 and a 1-year high of $2.95. The company has a 50 day moving average price of $2.41 and a 200-day moving average price of $2.20. The company’s market capitalization is $353.02 million.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.08. Glu Mobile had a negative return on equity of 27.11% and a negative net margin of 43.59%. The company had revenue of $56.80 million for the quarter, compared to analyst estimates of $53.59 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Glu Mobile will post ($0.17) earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of GLUU. State Street Corp raised its stake in shares of Glu Mobile by 2.4% in the fourth quarter. State Street Corp now owns 1,799,025 shares of the company’s stock valued at $3,493,000 after buying an additional 41,559 shares during the last quarter. Raging Capital Management LLC raised its stake in shares of Glu Mobile by 8.6% in the fourth quarter. Raging Capital Management LLC now owns 6,037,648 shares of the company’s stock valued at $11,713,000 after buying an additional 479,099 shares during the last quarter. Creative Planning raised its stake in shares of Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock valued at $113,000 after buying an additional 901 shares during the last quarter. Capital Advisors Inc. OK acquired a new stake in shares of Glu Mobile during the third quarter valued at about $103,000. Finally, Alambic Investment Management L.P. raised its stake in shares of Glu Mobile by 41.9% in the third quarter. Alambic Investment Management L.P. now owns 691,000 shares of the company’s stock valued at $1,548,000 after buying an additional 203,900 shares during the last quarter. Hedge funds and other institutional investors own 26.56% of the company’s stock.
About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.
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