Equities analysts predict that Glu Mobile Inc. (NASDAQ:GLUU) will announce $72.67 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Glu Mobile’s earnings. The highest sales estimate is $73.51 million and the lowest is $71.00 million. Glu Mobile reported sales of $56.79 million during the same quarter last year, which would indicate a positive year over year growth rate of 28%. The company is expected to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Glu Mobile will report full-year sales of $72.67 million for the current financial year, with estimates ranging from $323.00 million to $334.77 million. For the next financial year, analysts expect that the firm will report sales of $370.36 million per share, with estimates ranging from $353.00 million to $395.07 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Glu Mobile.
Several research firms have commented on GLUU. Zacks Investment Research raised shares of Glu Mobile from a “strong sell” rating to a “hold” rating in a report on Thursday, February 15th. Wedbush set a $5.00 price objective on shares of Glu Mobile and gave the company a “hold” rating in a report on Friday, February 9th. BidaskClub raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Stifel Nicolaus reissued a “buy” rating and set a $4.75 price objective on shares of Glu Mobile in a report on Friday, February 9th. Finally, Canaccord Genuity restated a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Glu Mobile presently has a consensus rating of “Hold” and a consensus price target of $4.01.
Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Glu Mobile by 4,428.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,709 shares of the company’s stock valued at $899,000 after buying an additional 238,327 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Glu Mobile by 371.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 696,400 shares of the company’s stock valued at $2,618,000 after buying an additional 548,600 shares in the last quarter. State Street Corp raised its position in shares of Glu Mobile by 6.7% during the 2nd quarter. State Street Corp now owns 1,914,877 shares of the company’s stock valued at $4,791,000 after buying an additional 120,550 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Glu Mobile by 114.1% during the 2nd quarter. Alliancebernstein L.P. now owns 191,000 shares of the company’s stock valued at $478,000 after buying an additional 101,800 shares in the last quarter. Finally, EAM Investors LLC purchased a new stake in Glu Mobile in the 3rd quarter worth about $2,327,000. Hedge funds and other institutional investors own 38.09% of the company’s stock.
Glu Mobile (NASDAQ:GLUU) opened at $3.80 on Thursday. Glu Mobile has a 1-year low of $1.85 and a 1-year high of $4.95. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03.
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About Glu Mobile
Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.
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