Needham & Company Gives Strong-Buy Rating to Glu Mobile (GLUU)

By admin | 7 years ago

Glu Mobile (NASDAQ: GLUU)‘s stock had its “strong-buy” rating reaffirmed by Needham & Company in a research note issued on Thursday.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Glu Mobile in a research note to investors on Thursday.

Glu Mobile traded down 9.31% on Thursday, hitting $4.19. Glu Mobile has a 52-week low of $1.80 and a 52-week high of $6.10. The company’s market cap is $264.9 million.

The company last announced its quarterly results on Wednesday, May 2nd. It reported ($0.01) earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of ($0.08) EPS by $0.07. The company’s quarterly revenue was up 31.1% on a year-over-year basis. Analysts expect that Glu Mobile will post $-0.04 EPS next quarter.

Glu Mobile Inc. (Glu Mobile) is engaged in designing, marketing and selling games for mobile phones. The Company has developed and published a portfolio of casual and traditional games designed to appeal to a cross section of the subscribers served by its wireless carriers and other distributors, as well as to users of smartphones who purchase the Company’s games through direct-to-consumer digital storefronts.

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