Glu Mobile Inc. (NASDAQ:GLUU) has been assigned a $4.00 target price by equities researchers at Roth Capital in a research report issued on Wednesday, May 24th. The firm presently has a “buy” rating on the stock. Roth Capital’s target price points to a potential upside of 61.94% from the company’s previous close.
A number of other equities analysts also recently commented on GLUU. Wedbush set a $2.00 price objective on Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday, February 8th. Canaccord Genuity reiterated a “hold” rating and set a $3.00 price objective on shares of Glu Mobile in a research report on Friday, February 3rd. Mizuho lifted their price objective on Glu Mobile from $2.30 to $2.40 and gave the stock a “neutral” rating in a research report on Thursday, February 9th. Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “sell” rating in a research report on Tuesday, February 14th. Finally, Cowen and Company restated an “outperform” rating and issued a $3.00 target price on shares of Glu Mobile in a research report on Thursday, May 4th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.84.
Glu Mobile (GLUU) opened at 2.47 on Wednesday. The company’s market cap is $332.81 million. The stock has a 50 day moving average of $2.57 and a 200 day moving average of $2.28. Glu Mobile has a one year low of $1.73 and a one year high of $2.95.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.09) by $0.08. Glu Mobile had a negative net margin of 50.11% and a negative return on equity of 36.94%. The business had revenue of $56.80 million during the quarter, compared to analyst estimates of $53.59 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts anticipate that Glu Mobile will post ($0.18) earnings per share for the current fiscal year.
In related news, insider Masi Niccolo De sold 339,648 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $2.59, for a total value of $879,688.32. Following the sale, the insider now owns 537,228 shares in the company, valued at approximately $1,391,420.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Capital Advisors Inc. OK purchased a new stake in Glu Mobile during the third quarter valued at about $103,000. Goldman Sachs Group Inc. increased its stake in Glu Mobile by 125.4% in the first quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after buying an additional 26,535 shares in the last quarter. Creative Planning boosted its position in 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. American International Group Inc. boosted its position in Glu Mobile by 7.1% in the first quarter. American International Group Inc. now owns 63,380 shares of the company’s stock valued at $144,000 after buying an additional 4,196 shares during the last quarter. Finally, Princeton Portfolio Strategies Group LLC bought a new position in Glu Mobile during the first quarter valued at approximately $153,000. Hedge funds and other institutional investors own 29.99% of the company’s stock.
Glu Mobile Company Profile
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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