Roth Capital Believes Glu Mobile (NASDAQ: GLUU) Won’t Stop Here

By Jason Carr

In a report released yesterday, Darren Aftahi from Roth Capital assigned a Buy rating to Glu Mobile (NASDAQ: GLUU), with a price target of $4.75. The company’s shares opened today at $3.99, close to its 52-week high of $4.32.

According to TipRanks.com, Aftahi is a 4-star analyst with an average return of 5.4% and a 51.6% success rate. Aftahi covers the Technology sector, focusing on stocks such as The Meet Group Inc, Mitek Systems Inc, and Angie’s List Inc.

Currently, the analyst consensus on Glu Mobile is Moderate Buy and the average price target is $3.64, representing a -8.8% downside.

In a report issued on October 9, Stifel Nicolaus also reiterated a Buy rating on the stock with a $3.30 price target.

Based on Glu Mobile’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $68.68 million and GAAP net loss of $23.57 million. In comparison, last year the company earned revenue of $51.38 million and had a GAAP net loss of $43.73 million.

Based on the recent corporate insider activity of 60 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 develops, publishes and markets a portfolio of games designed to appeal to a broad cross section of the 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, Amazon Appstore and others. The company was founded in May 2001 and is headquartered in San Francisco, CA.