Glu Mobile (GLUU) Gets a Hold Rating from Roth Capital

Roth Capital analyst Darren Aftahi maintained a Hold rating on Glu Mobile (GLUUResearch Report) yesterday and set a price target of $10.50. The company’s shares closed yesterday at $7.29.

Aftahi commented:

“We caveat that we do believe that WWE has been adequate enough to likely lift bookings to the top end of the ~$102M range, all else equal. However, we still focus on new game outlook as all core growth games (ex-TSB) have slowed on the margin. We maintain our Neutral rating.”

According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 15.8% and a 51.3% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.

Currently, the analyst consensus on Glu Mobile is a Strong Buy with an average price target of $11.51.

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Based on Glu Mobile’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $663K. In comparison, last year the company had a GAAP net loss of $7.21 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.

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Glu Mobile, Inc. designs, markets and sells mobile games. It specializes in free-to-play mobile games designed to a section of users who download and make purchases games through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play Store, Amazon Appstore and others.