$90.16 Million in Sales Expected for Glu Mobile Inc. (GLUU) This Quarter

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Brokerages forecast that Glu Mobile Inc. (NASDAQ:GLUU) will report $90.16 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Glu Mobile’s earnings. The lowest sales estimate is $89.10 million and the highest is $92.00 million. Glu Mobile posted sales of $86.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The business is expected to issue its next earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Glu Mobile will report full year sales of $445.58 million for the current fiscal year, with estimates ranging from $440.00 million to $451.53 million. For the next financial year, analysts anticipate that the company will report sales of $505.30 million, with estimates ranging from $475.10 million to $546.08 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Glu Mobile.

A number of analysts recently issued reports on GLUU shares. BidaskClub lowered Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 25th. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, February 6th. Wedbush reiterated a “hold” rating and set a $9.00 price objective on shares of Glu Mobile in a research note on Wednesday, January 30th. Cowen boosted their price objective on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research note on Monday, December 10th. Finally, Piper Jaffray Companies boosted their price objective on Glu Mobile to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, February 5th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $9.31.

In related news, Director Hany Nada sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $9.18, for a total transaction of $459,000.00. Following the sale, the director now directly owns 240,200 shares in the company, valued at approximately $2,205,036. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GLUU. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Glu Mobile by 79.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,752 shares of the company’s stock worth $71,000 after buying an additional 3,870 shares in the last quarter. Advisor Group Inc. grew its position in Glu Mobile by 12,412.0% during the fourth quarter. Advisor Group Inc. now owns 9,384 shares of the company’s stock worth $75,000 after buying an additional 9,309 shares in the last quarter. Perritt Capital Management Inc. purchased a new position in Glu Mobile during the fourth quarter worth about $81,000. Aft Forsyth & Company Inc. purchased a new position in Glu Mobile during the fourth quarter worth about $85,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Glu Mobile during the fourth quarter worth about $96,000. Institutional investors and hedge funds own 57.15% of the company’s stock.

Shares of GLUU traded up $0.70 during mid-day trading on Friday, hitting $9.98. The stock had a trading volume of 3,251,677 shares, compared to its average volume of 2,324,087. Glu Mobile has a 52 week low of $3.58 and a 52 week high of $10.41. The firm has a market cap of $1.34 billion, a PE ratio of -124.75, a PEG ratio of 3.36 and a beta of 0.73.

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 in four genres, including home d├ęcor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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

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