Glu Mobile Upgraded to “Outperform” by Zacks (GLUU)
Glu Mobile (NASDAQ:GLUU) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, Analyst Ratings Network reports. The firm currently has a $5.30 target price on the stock. Zacks‘ price objective suggests a potential upside of 6.85% from the stock’s previous close.
A number of other firms have also recently commented on GLUU. Analysts at Needham & Company raised their price target on shares of Glu Mobile to $5.00 in a research note on Thursday, February 6th. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Glu Mobile in a research note on Thursday, February 6th. They now have a $6.00 price target on the stock, up previously from $4.00. Finally, analysts at Piper Jaffray upgraded shares of Glu Mobile from a “neutral” rating to an “overweight” rating in a research note on Thursday, February 6th. They now have a $6.00 price target on the stock, up previously from $4.00. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $4.82.
In other Glu Mobile news, Director Hany Nada unloaded 400,000 shares of the company’s stock on the open market in a transaction dated Friday, February 7th. The stock was sold at an average price of $4.99, for a total transaction of $1,996,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Glu Mobile (NASDAQ:GLUU) traded down 0.40% on Tuesday, hitting $4.94. 3,564,834 shares of the company’s stock traded hands. Glu Mobile has a one year low of $2.08 and a one year high of $5.13. The stock’s 50-day moving average is $4.03 and its 200-day moving average is $3.21. The company’s market cap is $385.7 million.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. The company had revenue of $42.80 million for the quarter, compared to the consensus estimate of $32.20 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 32.3% on a year-over-year basis. On average, analysts predict that Glu Mobile will post $0.02 earnings per share for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.
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