Glu Mobile Upgraded by Northland Securities to “Outperform” (GLUU)
Glu Mobile (NASDAQ: GLUU) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a report issued on Monday, TheFlyOnTheWall.com reports.
Glu Mobile (NASDAQ: GLUU) opened at 3.34 on Monday. Glu Mobile has a 52-week low of $1.99 and a 52-week high of $5.90. The stock’s 50-day moving average is currently $2.40. The company’s market cap is $219.4 million.
Glu Mobile (NASDAQ: GLUU) last posted its quarterly earnings results on Tuesday, February 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $20.80 million for the quarter, compared to the consensus estimate of $20.04 million. During the same quarter last year, the company posted ($0.02) earnings per share. Glu Mobile’s revenue was up 3.5% compared to the same quarter last year. Glu Mobile has set its Q1 guidance at ($0.08)-(0.06) EPS and its FY13 guidance at ($0.17)-(0.09) EPS. On average, analysts predict that Glu Mobile will post $-0.11 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on GLUU. Analysts at Northland Capital upgraded shares of Glu Mobile from a “market perform” rating to an “outperform” rating in a research note to investors on Monday. They now have a $4.50 price target on the stock, up previously from $2.50. Separately, analysts at Canaccord Genuity cut their price target on shares of Glu Mobile from $5.00 to $3.50 in a research note to investors on Wednesday, February 6th. They now have a “buy” rating on the stock.
Four research analysts have rated the stock with a buy rating, and five have assigned a hold rating to the company’s stock. The stock presently has an average rating of “overweight” and an average price target of $2.97.
Glu Mobile Inc. (Glu) designs, markets and sells mobile games. The Company has developed and published a portfolio of action/adventure and casual games designed to appeal to a cross section of the users of smartphones and tablet devices who purchase its games through direct-to-consumer digital storefronts, as well as users of feature phones served by wireless carriers and other distributors.
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