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Stock analysts at Canaccord Genuity raised their price target on shares of Glu Mobile (NASDAQ:GLUU) from $5.50 to $8.00 in a report issued on Thursday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 39.86% from the company’s current price.

Glu Mobile (NASDAQ:GLUU) traded up 1.96% on Thursday, hitting $5.72. 8,774,425 shares of the company’s stock traded hands. Glu Mobile has a 52-week low of $2.10 and a 52-week high of $7.60. The stock’s 50-day moving average is $5.50 and its 200-day moving average is $4.63. The company’s market cap is $489.3 million.

Glu Mobile (NASDAQ:GLUU) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.02. The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $33.24 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 50.9% on a year-over-year basis. Analysts expect that Glu Mobile will post $0.20 EPS for the current fiscal year.

GLUU has been the subject of a number of other recent research reports. Analysts at Northland Securities raised their price target on shares of Glu Mobile from $9.00 to $9.50 in a research note on Thursday. They now have an “accumulate” rating on the stock. Separately, analysts at Benchmark Co. downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, analysts at Cowen and Company raised their price target on shares of Glu Mobile from $6.00 to $10.00 in a research note on Monday, July 21st. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $6.55.

Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.

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