Equities analysts expect Glu Mobile Inc. (NASDAQ:GLUU) to post sales of $90.16 million for the current quarter, Zacks reports. Four analysts have provided estimates for Glu Mobile’s earnings. The lowest sales estimate is $89.10 million and the highest is $92.00 million. Glu Mobile reported sales of $86.30 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The business is expected to report its next earnings results on Tuesday, May 7th.
According to Zacks, 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 year, analysts anticipate that the business 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 an average based on a survey of sell-side research firms that follow Glu Mobile.
GLUU has been the topic of several research reports. Wedbush restated a “hold” rating and set a $9.00 price objective on shares of Glu Mobile in a report on Wednesday, January 30th. Stephens initiated coverage on Glu Mobile in a report on Thursday, January 10th. They set an “overweight” rating and a $10.50 price objective on the stock. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Tuesday, November 13th. BidaskClub upgraded Glu Mobile from a “hold” rating to a “buy” rating in a report on Saturday, November 10th. Finally, Cowen lifted their price target on Glu Mobile to $9.50 and gave the company an “outperform” rating in a report on Monday, December 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Glu Mobile has a consensus rating of “Buy” and an average target price of $9.31.
Several institutional investors have recently bought and sold shares of GLUU. Vanguard Group Inc lifted its position 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 acquiring an additional 975,586 shares during the period. Vanguard Group Inc. lifted its position 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 acquiring an additional 975,586 shares during the period. BlackRock Inc. lifted its position in Glu Mobile by 1.2% during the 4th quarter. BlackRock Inc. now owns 7,694,965 shares of the company’s stock worth $62,097,000 after acquiring an additional 92,914 shares during the period. MARSHALL WACE ASIA Ltd lifted its position 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 acquiring an additional 1,176,427 shares during the period. Finally, JPMorgan Chase & Co. lifted its position 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 acquiring an additional 3,168,975 shares during the period. 58.12% of the stock is owned by hedge funds and other institutional investors.
GLUU opened at $9.36 on Thursday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -117.00, a PEG ratio of 3.51 and a beta of 0.90. Glu Mobile has a 52 week low of $3.58 and a 52 week high of $10.41. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.02.
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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