Equities analysts forecast that Glu Mobile Inc. (NASDAQ:GLUU) will post $90.16 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Glu Mobile’s earnings, with the highest sales estimate coming in at $92.00 million and the lowest estimate coming in at $89.10 million. Glu Mobile posted sales of $86.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.5%. The business is expected to announce its next quarterly earnings results after the market closes on Monday, May 6th.
According to Zacks, 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 year, analysts expect that the company will report sales of $505.30 million, with estimates ranging from $475.10 million to $546.08 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Glu Mobile.
Several equities research analysts recently commented on the company. BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 1st. Piper Jaffray Companies raised their target price on Glu Mobile to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 5th. Wedbush set a $10.20 target price on Glu Mobile and gave the company a “neutral” rating in a report on Tuesday, February 5th. Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Finally, Stephens assumed coverage on Glu Mobile in a report on Thursday, January 10th. They set an “overweight” rating and a $10.50 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $9.31.
A number of hedge funds have recently bought and sold shares of GLUU. JPMorgan Chase & Co. increased its holdings 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 worth $23,774,000 after purchasing an additional 3,168,975 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings 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 worth $19,014,000 after purchasing an additional 1,219,274 shares during the last quarter. MARSHALL WACE ASIA Ltd increased its holdings 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 worth $33,941,000 after purchasing an additional 1,176,427 shares during the last quarter. Emerald Advisers LLC increased its holdings in Glu Mobile by 88.9% during the 4th quarter. Emerald Advisers LLC now owns 2,322,026 shares of the company’s stock worth $18,739,000 after purchasing an additional 1,092,826 shares during the last quarter. Finally, Vanguard Group Inc increased its holdings in Glu Mobile by 9.9% during the 3rd quarter. Vanguard Group Inc now owns 10,792,797 shares of the company’s stock worth $80,407,000 after purchasing an additional 975,586 shares during the last quarter. Institutional investors own 57.13% of the company’s stock.
Shares of NASDAQ:GLUU traded up $0.08 during mid-day trading on Tuesday, hitting $11.08. 1,267,892 shares of the company traded hands, compared to its average volume of 2,019,572. The company has a market cap of $1.60 billion, a P/E ratio of -138.50, a PEG ratio of 4.10 and a beta of 0.76. Glu Mobile has a 52-week low of $4.26 and a 52-week high of $11.75.
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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