Glu Mobile (GLUU) is Reiterated by Wedbush to Neutral, Lowers Price Target to $ 2.25

Glu Mobile (GLUU) was Reiterated by Wedbush to “Neutral” while Lowering the Price Target of the company shares to $ 2.25 from a previous price target of $2.45 . Wedbush advised their investors in a research report released on Aug 3, 2016.

Many Wall Street Analysts have commented on Glu Mobile. Glu Mobile was Downgraded by Northland Capital to ” Market Perform” on Aug 3, 2016. Shares were Reiterated by Wedbush on Jul 29, 2016 to “Neutral” and Lowered the Price Target to $ 2.45 from a previous price target of $2.65 .

On the company’s financial health, Glu Mobile reported $-0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.05. The company had revenue of $48.36 million for the quarter, compared to analysts expectations of $47.16 million. The company’s revenue was down -13.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.01 EPS.

Glu Mobile closed down -0.13 points or -5.37% at $2.29 with 77,38,738 shares getting traded on Tusday. Post opening the session at $2.41, the shares hit an intraday low of $2.24 and an intraday high of $2.445 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jul 18, 2016, Gregory J. Cannon (Vice President, Finance and IR) sold 55,000 shares at $2.50 per share price. According to the SEC, on Jun 3, 2016, Ann Mather (director) sold 25,000 shares at $2.36 per share price. On May 20, 2016, William J Miller (director) sold 20,100 shares at $2.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Glu Mobile Inc. develops publishes and markets a portfolio of games. The Company offers games to a cross section of users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts such as the Apple App Store Google Play Store and Amazon Appstore among others. The Company creates games based on its own brands including Blood & Glory Contract Killer Deer Hunter Diner Dash Eternity Warriors Frontline Commando Gun Bros and Heroes of Destiny. The Company also creates games based on third-party licensed brands including Kim Kardashian: Hollywood Robocop: The Official Game and Hercules: The Official Game as well as its own branded games that incorporate third-party licensed brands properties and other content such as Racing Rivals and Tap Sports: Baseball. It released around 16 free-to-play games. It has around eight global studios that create and develop its games.

Glu Mobile

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