$90.16 Million in Sales Expected for Glu Mobile Inc. (GLUU) This Quarter
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.
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 décor, 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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