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.

In other Glu Mobile news, Director Hany Nada sold 50,000 shares of the stock in a transaction 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 sale, the director now directly owns 240,200 shares in the company, valued at approximately $2,205,036. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.80% of the company’s stock.

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 d├ęcor, 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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Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

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