Brokerages Expect Glu Mobile Inc. (NASDAQ:GLUU) Will Post Quarterly Sales of $96.26 Million

Analysts expect Glu Mobile Inc. (NASDAQ:GLUU) to report $96.26 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Glu Mobile’s earnings, with the lowest sales estimate coming in at $94.00 million and the highest estimate coming in at $98.50 million. Glu Mobile reported sales of $92.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The company is scheduled to announce its next quarterly earnings report on Monday, May 4th.

On average, analysts expect that Glu Mobile will report full year sales of $460.58 million for the current fiscal year, with estimates ranging from $428.00 million to $483.50 million. For the next fiscal year, analysts anticipate that the company will report sales of $534.58 million, with estimates ranging from $495.80 million to $600.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $108.40 million for the quarter, compared to analyst estimates of $103.64 million. Glu Mobile had a net margin of 2.16% and a return on equity of 5.63%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) earnings per share.

A number of brokerages recently issued reports on GLUU. BidaskClub lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Wedbush restated a “buy” rating and set a $7.50 target price on shares of Glu Mobile in a research report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of Glu Mobile from to and gave the stock a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley restated a “buy” rating and set a $8.00 target price on shares of Glu Mobile in a research report on Monday, February 10th. Finally, Benchmark raised their target price on shares of Glu Mobile from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Glu Mobile presently has a consensus rating of “Buy” and an average target price of $7.67.

In other news, VP Puneet Kedia sold 4,049 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $7.13, for a total value of $28,869.37. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Chris Akhavan sold 379,932 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $6.86, for a total transaction of $2,606,333.52. Following the completion of the transaction, the senior vice president now directly owns 120,530 shares in the company, valued at approximately $826,835.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,018,981 shares of company stock worth $7,252,719. 6.84% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. purchased a new position in shares of Glu Mobile in the 4th quarter valued at $28,000. Penserra Capital Management LLC purchased a new position in shares of Glu Mobile in the 3rd quarter valued at $43,000. Shelton Capital Management purchased a new stake in Glu Mobile during the 4th quarter worth $62,000. Profund Advisors LLC purchased a new stake in Glu Mobile during the 4th quarter worth $73,000. Finally, LS Investment Advisors LLC purchased a new stake in Glu Mobile during the 4th quarter worth $84,000. 69.95% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ GLUU traded up $0.12 during mid-day trading on Tuesday, reaching $6.14. 2,820,890 shares of the stock were exchanged, compared to its average volume of 4,190,346. Glu Mobile has a 1-year low of $3.98 and a 1-year high of $11.65. The business’s fifty day simple moving average is $6.46 and its 200 day simple moving average is $6.01. The stock has a market capitalization of $888.19 million, a PE ratio of 102.27, a PEG ratio of 3.53 and a beta of 0.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.42 and a current ratio of 1.42.

About Glu Mobile

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 primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.

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Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

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