Glu Mobile (GLUU) Gets a Buy Rating from Wedbush

By Jason Carr

In a report released today, Michael Pachter from Wedbush reiterated a Buy rating on Glu Mobile (GLUUResearch Report), with a price target of $7.50. The company’s shares closed last Monday at $5.67.

According to TipRanks.com, Pachter is a 4-star analyst with an average return of 2.2% and a 54.7% success rate. Pachter covers the Services sector, focusing on stocks such as National Cinemedia, Cinemark Holdings, and AMC Entertainment.

Currently, the analyst consensus on Glu Mobile is a Strong Buy with an average price target of $7.54.

See today’s analyst top recommended stocks >>

Glu Mobile’s market cap is currently $826.4M and has a P/E ratio of 643.75. The company has a Price to Book ratio of 4.43.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GLUU in relation to earlier this year. Most recently, in September 2019, Scott Leichtner, the VP & GC of GLUU sold 54,357 shares for a total of $247,868.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.