Glu Mobile Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:GLUU)
Shares of Glu Mobile (NASDAQ:GLUU) have earned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the stock, AnalystRatings.NET reports. Three investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.72.
In other Glu Mobile news, CFO Eric R. Ludwig sold 169,362 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $5.30, for a total value of $897,618.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of Glu Mobile from $5.50 to $8.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Separately, 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, July 31st. They now have an “accumulate” rating on the stock. Finally, analysts at Benchmark Co. downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Thursday, July 31st.
Glu Mobile (NASDAQ:GLUU) traded up 2.15% on Wednesday, hitting $5.1379. 1,364,476 shares of the company’s stock traded hands. Glu Mobile has a one year low of $2.10 and a one year high of $7.60. The stock has a 50-day moving average of $5.91 and a 200-day moving average of $4.75. The company’s market cap is $494.7 million.
Glu Mobile (NASDAQ:GLUU) last announced its 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. On average, analysts predict that Glu Mobile will post $0.20 earnings per share for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU), markets and sells mobile games.
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