$90.16 Million in Sales Expected for Glu Mobile Inc. (GLUU) This Quarter
Wall Street brokerages expect Glu Mobile Inc. (NASDAQ:GLUU) to announce $90.16 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided 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 suggests a positive year-over-year growth rate of 4.5%. The business is scheduled to report its next 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 fiscal 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 an average based on a survey of sell-side research analysts that cover Glu Mobile.
Several analysts recently weighed in on the company. BidaskClub downgraded Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 25th. Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. Wedbush restated a “hold” rating and issued a $9.00 price target on shares of Glu Mobile in a research note on Wednesday, January 30th. Stephens assumed coverage on Glu Mobile in a research note on Thursday, January 10th. They issued an “overweight” rating and a $10.50 price target on the stock. Finally, Piper Jaffray Companies upped their price target on Glu Mobile to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 5th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Glu Mobile currently has a consensus rating of “Buy” and an average price target of $9.31.
A number of institutional investors and hedge funds have recently modified their holdings of GLUU. JPMorgan Chase & Co. boosted its stake in Glu Mobile by 14,199.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock valued at $23,774,000 after purchasing an additional 3,168,975 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Glu Mobile by 107.2% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 2,356,151 shares of the company’s stock valued at $19,014,000 after purchasing an additional 1,219,274 shares during the last quarter. MARSHALL WACE ASIA Ltd boosted its stake in Glu Mobile by 34.8% during the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 4,555,849 shares of the company’s stock valued at $33,941,000 after purchasing an additional 1,176,427 shares during the last quarter. Emerald Advisers LLC boosted its stake in Glu Mobile by 88.9% during the 4th quarter. Emerald Advisers LLC now owns 2,322,026 shares of the company’s stock valued at $18,739,000 after purchasing an additional 1,092,826 shares during the last quarter. Finally, Vanguard Group Inc boosted its stake in Glu Mobile by 9.9% during the 3rd quarter. Vanguard Group Inc now owns 10,792,797 shares of the company’s stock valued at $80,407,000 after purchasing an additional 975,586 shares during the last quarter. Institutional investors and hedge funds own 57.15% of the company’s stock.
Shares of Glu Mobile stock traded up $0.70 during midday trading on Friday, hitting $9.98. The company had a trading volume of 3,251,677 shares, compared to its average volume of 2,324,087. The company has a market capitalization of $1.34 billion, a P/E ratio of -124.75, a PEG ratio of 3.36 and a beta of 0.73. Glu Mobile has a 52-week low of $3.58 and a 52-week high of $10.41.
Glu Mobile Company Profile
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 in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.
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