Analysts forecast that Glu Mobile Inc. (NASDAQ:GLUU) will announce $72.52 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Glu Mobile’s earnings, with the lowest sales estimate coming in at $72.20 million and the highest estimate coming in at $73.00 million. Glu Mobile reported sales of $48.36 million during the same quarter last year, which indicates a positive year over year growth rate of 50%. The firm is expected to report its next earnings results on Tuesday, August 1st.

On average, analysts expect that Glu Mobile will report full-year sales of $72.52 million for the current financial year, with estimates ranging from $284.78 million to $288.10 million. For the next financial year, analysts forecast that the business will report sales of $304.60 million per share, with estimates ranging from $295.60 million to $318.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last issued its earnings results on Wednesday, May 3rd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.08. Glu Mobile had a negative return on equity of 36.94% and a negative net margin of 50.11%. The company had revenue of $56.80 million for the quarter, compared to analyst estimates of $53.59 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year.

Several analysts recently weighed in on the stock. Cowen and Company reiterated an “outperform” rating and issued a $3.00 price objective on shares of Glu Mobile in a research report on Thursday, May 4th. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Canaccord Genuity restated a “hold” rating and set a $3.00 price target on shares of Glu Mobile in a research report on Friday, June 30th. Zacks Investment Research downgraded shares of Glu Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Mizuho boosted their price target on shares of Glu Mobile from $2.40 to $2.80 and gave the stock a “neutral” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Glu Mobile presently has an average rating of “Hold” and an average target price of $2.81.

ILLEGAL ACTIVITY WARNING: “Zacks: Analysts Anticipate Glu Mobile Inc. (GLUU) Will Post Quarterly Sales of $72.52 Million” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/07/16/zacks-analysts-anticipate-glu-mobile-inc-gluu-will-post-quarterly-sales-of-72-52-million.html.

In other news, insider Masi Niccolo De sold 339,648 shares of Glu Mobile stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $2.59, for a total value of $879,688.32. Following the transaction, the insider now owns 537,228 shares of the company’s stock, valued at approximately $1,391,420.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in GLUU. State Street Corp boosted its position in shares of Glu Mobile by 2.4% in the fourth quarter. State Street Corp now owns 1,799,025 shares of the company’s stock valued at $3,493,000 after buying an additional 41,559 shares in the last quarter. Creative Planning boosted its position in shares of Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock valued at $113,000 after buying an additional 901 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Glu Mobile during the first quarter valued at about $171,000. Nationwide Fund Advisors boosted its position in shares of Glu Mobile by 69.2% in the first quarter. Nationwide Fund Advisors now owns 147,079 shares of the company’s stock valued at $334,000 after buying an additional 60,168 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Glu Mobile by 163.9% in the first quarter. Russell Investments Group Ltd. now owns 133,650 shares of the company’s stock valued at $303,000 after buying an additional 83,002 shares in the last quarter. 29.99% of the stock is currently owned by institutional investors.

Glu Mobile (NASDAQ:GLUU) opened at 2.57 on Friday. The firm’s market capitalization is $346.28 million. The firm’s 50-day moving average is $2.61 and its 200 day moving average is $2.30. Glu Mobile has a 12 month low of $1.73 and a 12 month high of $2.95.

About Glu Mobile

Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.

Get a free copy of the Zacks research report on Glu Mobile (GLUU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

Receive News & Ratings for Glu Mobile Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile Inc. and related companies with MarketBeat.com's FREE daily email newsletter.