Roth Capital Initiates Coverage on Glu Mobile (GLUU)
Investment analysts at Roth Capital began coverage on shares of Glu Mobile (NASDAQ:GLUU) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $5.00 price target on the stock. Roth Capital’s target price would suggest a potential upside of 17.65% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Craig Hallum upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at B. Riley downgraded shares of Glu Mobile from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, December 24th. They now have a $4.25 price target on the stock, up previously from $3.88. Finally, analysts at Northland Capital Partners raised their price target on shares of Glu Mobile from $4.00 to $4.75 in a research note to investors on Friday, November 1st. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.31.
In other Glu Mobile news, Director Hany Nada sold 500,000 shares of Glu Mobile stock on the open market in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $4.15, for a total transaction of $2,075,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Glu Mobile (NASDAQ:GLUU) traded up 1.92% on Wednesday, hitting $4.25. 5,331,713 shares of the company’s stock traded hands. Glu Mobile has a 1-year low of $2.00 and a 1-year high of $4.24. The stock has a 50-day moving average of $3.6 and a 200-day moving average of $2.94. The company’s market cap is $331.3 million.
Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $22.60 million for the quarter, compared to the consensus estimate of $20.28 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. Analysts expect that Glu Mobile will post $-0.15 EPS for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.
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