Glu Mobile Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:GLUU)
Glu Mobile (NASDAQ:GLUU) has earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the company, Analyst Ratings.Net reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.24.
Shares of Glu Mobile (NASDAQ:GLUU) opened at 6.00 on Wednesday. Glu Mobile has a 52-week low of $2.10 and a 52-week high of $6.09. The stock’s 50-day moving average is $4. and its 200-day moving average is $4.3. The company’s market cap is $487.9 million. Glu Mobile also saw some unusual options trading on Friday. Investors acquired 12,558 call options on the company. This represents an increase of 428% compared to the typical volume of 2,377 call options.
Glu Mobile (NASDAQ:GLUU) last released its earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Glu Mobile will post $0.03 EPS for the current fiscal year.
A number of research firms have recently commented on GLUU. Analysts at Needham & Company LLC raised their price target on shares of Glu Mobile from $6.00 to $7.00 in a research note on Wednesday, July 2nd. They now have a “strong-buy” rating on the stock. Separately, analysts at Benchmark Co. upgraded shares of Glu Mobile from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. They now have a $5.60 price target on the stock, up previously from $4.62. Finally, 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.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.
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