Glu Mobile Rating Increased to Buy at Benchmark Co. (GLUU)
Glu Mobile (NASDAQ:GLUU) was upgraded by investment analysts at Benchmark Co. from a “hold” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
GLUU has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Glu Mobile from an “outperform” rating to a “neutral” rating in a research note on Monday, May 12th. They now have a $5.00 price target on the stock. Analysts at Needham & Company LLC upgraded shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 1st. They now have a $6.00 price target on the stock, up previously from $5.00. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Glu Mobile presently has a consensus rating of “Buy” and a consensus price target of $5.10.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 4.45 on Friday. Glu Mobile has a 1-year low of $2.10 and a 1-year high of $5.65. The stock’s 50-day moving average is $3.82 and its 200-day moving average is $4.22. The company’s market cap is $361.9 million. Glu Mobile also was the target of a large decline in short interest in the month of June. As of June 13th, there was short interest totalling 13,043,458 shares, a decline of 6.1% from the May 30th total of 13,892,270 shares. Based on an average daily volume of 1,828,972 shares, the days-to-cover ratio is currently 7.1 days. Approximately 17.5% of the shares of the company are sold short.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Wednesday, April 30th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.04. The company had revenue of $44.60 million for the quarter, compared to the consensus estimate of $39.45 million. On average, analysts predict that Glu Mobile will post $0.03 earnings per share for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.
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