B. Riley upgraded shares of Glu Mobile (NASDAQ:GLUU) from a neutral rating to a buy rating in a report issued on Monday, TheFlyOnTheWall.com reports. They currently have $3.75 target price on the stock, up from their previous target price of $2.75. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on GLUU. Analysts at Northland Securities reiterated a positive rating on shares of Glu Mobile in a research note to investors on Friday, September 20th. Separately, analysts at Benchmark Co. initiated coverage on shares of Glu Mobile in a research note to investors on Friday, August 16th. They set a hold rating and a $2.42 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Glu Mobile from $3.50 to $3.00 in a research note to investors on Wednesday, August 7th. They now have a buy rating on the stock. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $3.92.
Shares of Glu Mobile (NASDAQ:GLUU) traded up 2.27% during mid-day trading on Monday, hitting $3.1601. The stock had a trading volume of 1,613,109 shares. Glu Mobile has a one year low of $1.99 and a one year high of $3.86. The stock has a 50-day moving average of $2.5 and a 200-day moving average of $2.60. The company’s market cap is $222.9 million.
Glu Mobile (NASDAQ:GLUU) last posted its quarterly 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. On average, analysts predict that Glu Mobile will post $-0.23 earnings per share for the current fiscal year.
Glu Mobile Inc (NASDAQ:GLUU) designs, markets and sells mobile games.
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