Cowen and Company assumed coverage on shares of Glu Mobile (NASDAQ:GLUU) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm issued an outperform rating and a $5.00 price target on the stock.
Shares of Glu Mobile (NASDAQ:GLUU) traded up 4.76% on Tuesday, hitting $3.30. 6,538,129 shares of the company’s stock traded hands. Glu Mobile has a one year low of $1.99 and a one year high of $5.40. The stock has a 50-day moving average of $2.45 and a 200-day moving average of $2.62. The company’s market cap is $232.8 million.
Glu Mobile (NASDAQ:GLUU) last announced its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.02. The company had revenue of $23.20 million for the quarter, compared to the consensus estimate of $17.14 million. Glu Mobile’s revenue was down 22.1% compared to the same quarter last year. Analysts expect that Glu Mobile will post $-0.22 EPS for the current fiscal year.
GLUU has been the subject of a number of other recent research reports. Analysts at Benchmark Co. raised their price target on shares of Glu Mobile from $2.42 to $3.07 in a research note to investors on Tuesday. They now have a buy rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Glu Mobile from $3.00 to $4.00 in a research note to investors on Wednesday, October 16th. They now have a buy rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Glu Mobile from $3.50 to $4.00 in a research note to investors on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Glu Mobile currently has an average rating of Buy and a consensus target price of $4.06.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.
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