Glu Mobile Inc. (GLUU) Receives Average Recommendation of “Hold” from Analysts
Glu Mobile Inc. (NASDAQ:GLUU) has earned an average rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.93.
Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Roth Capital reissued a “buy” rating and set a $4.75 price objective (up previously from $4.00) on shares of Glu Mobile in a research note on Monday, September 18th. Canaccord Genuity reissued a “hold” rating and set a $3.00 price objective on shares of Glu Mobile in a research note on Monday, October 30th. Wedbush set a $5.00 price target on shares of Glu Mobile and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, ValuEngine lowered shares of Glu Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th.
In other Glu Mobile news, Director Hany Nada sold 766,456 shares of Glu Mobile stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $4.51, for a total value of $3,456,716.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Masi Niccolo De sold 131,966 shares of Glu Mobile stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total transaction of $488,274.20. Following the completion of the transaction, the insider now directly owns 512,859 shares in the company, valued at approximately $1,897,578.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 936,422 shares of company stock worth $4,093,391. Insiders own 5.60% of the company’s stock.
Glu Mobile (NASDAQ GLUU) opened at $3.62 on Wednesday. Glu Mobile has a one year low of $1.85 and a one year high of $4.95. The firm has a market cap of $496.06, a P/E ratio of -6.46 and a beta of 1.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.09 and a current ratio of 1.09.
Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Glu Mobile had a negative return on equity of 35.19% and a negative net margin of 29.74%. The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.67 million. During the same period in the previous year, the business earned ($0.33) EPS. The firm’s revenue was up 57.8% compared to the same quarter last year. analysts forecast that Glu Mobile will post -0.18 earnings per share for the current fiscal year.
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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.
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