Glu Mobile Receives Average Recommendation of “Buy” from Analysts (NASDAQ:GLUU)
Glu Mobile (NASDAQ:GLUU) has been given a consensus recommendation of “Buy” by the eleven brokerages that are covering the stock, Analyst Ratings News reports. Three equities research analysts have rated the stock with a hold recommendation, six 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 $6.72.
Glu Mobile (NASDAQ:GLUU) opened at 4.87 on Wednesday. Glu Mobile has a 52-week low of $2.10 and a 52-week high of $7.60. The stock has a 50-day moving average of $5.89 and a 200-day moving average of $4.7. The company’s market cap is $468.9 million.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Wednesday, July 30th. The company reported ($0.02) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.05) earnings per share. Glu Mobile’s revenue was up 50.9% compared to the same quarter last year. On average, analysts predict that Glu Mobile will post $0.20 earnings per share for the current fiscal year.
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 Inc (NASDAQ:GLUU), markets and sells mobile games.
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