Wedbush Reiterates Their Buy Rating on Glu Mobile (GLUU)

In a report released today, Michael Pachter from Wedbush reiterated a Buy rating on Glu Mobile (GLUUResearch Report), with a price target of $14.25. The company’s shares closed last Thursday at $6.91.

According to TipRanks.com, Pachter is a 4-star analyst with an average return of 3.1% and a 56.7% success rate. Pachter covers the Technology sector, focusing on stocks such as Alphabet Class A, Unity Software, and Corsair Gaming.

Currently, the analyst consensus on Glu Mobile is a Strong Buy with an average price target of $11.39.

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Based on Glu Mobile’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $133 million and GAAP net loss of $8.57 million. In comparison, last year the company earned revenue of $95.54 million and had a net profit of $2.51 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GLUU in relation to earlier this year.

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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. It operates through the following geographical segments: United States of America, Americas excluding United States of America; Europe, the Middle East, and Africa; and Asia Pacific. The company was founded by Paul Zuzelo in May 2001 and is headquartered in San Francisco, CA.