Analysts expect that Glu Mobile Inc. (NASDAQ:GLUU) will announce $90.16 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Glu Mobile’s earnings, with estimates ranging from $89.10 million to $92.00 million. Glu Mobile posted sales of $86.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The business is expected to announce its next quarterly earnings results on Tuesday, May 7th.

On average, analysts expect that Glu Mobile will report full-year sales of $445.58 million for the current financial year, with estimates ranging from $440.00 million to $451.53 million. For the next financial year, analysts anticipate that the company will post sales of $505.30 million, with estimates ranging from $475.10 million to $546.08 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Glu Mobile.

Several analysts have weighed in on GLUU shares. Cowen lifted their price objective on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research report on Monday, December 10th. BidaskClub raised Glu Mobile from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 1st. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Wednesday, January 2nd. Stephens began coverage on Glu Mobile in a research report on Thursday, January 10th. They set an “overweight” rating and a $10.50 price target on the stock. Finally, Wedbush restated a “hold” rating and set a $9.00 price target on shares of Glu Mobile in a research report on Wednesday, January 30th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $9.31.

GLUU stock traded up $0.07 during trading on Monday, reaching $11.43. The company had a trading volume of 1,965,768 shares, compared to its average volume of 2,374,410. Glu Mobile has a 52 week low of $3.66 and a 52 week high of $11.75. The company has a market cap of $1.64 billion, a P/E ratio of -142.88, a PEG ratio of 4.21 and a beta of 0.76.

In related news, Director Hany Nada sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $9.18, for a total transaction of $459,000.00. Following the completion of the transaction, the director now owns 240,200 shares of the company’s stock, valued at approximately $2,205,036. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GLUU. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Glu Mobile by 79.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,752 shares of the company’s stock valued at $71,000 after acquiring an additional 3,870 shares in the last quarter. Advisor Group Inc. increased its holdings in Glu Mobile by 12,412.0% in the 4th quarter. Advisor Group Inc. now owns 9,384 shares of the company’s stock worth $75,000 after buying an additional 9,309 shares in the last quarter. Perritt Capital Management Inc. purchased a new position in Glu Mobile in the 4th quarter worth about $81,000. Aft Forsyth & Company Inc. purchased a new position in Glu Mobile in the 4th quarter worth about $85,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Glu Mobile in the 4th quarter worth about $96,000. Institutional investors own 56.56% of the company’s stock.

About Glu Mobile

Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles primarily in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.

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

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