Analyst Price Target Update on Glu Mobile (NASDAQ:GLUU)

Glu Mobile (NASDAQ:GLUU) shares are expected to touch $3.42 in the short term. This short term price target has been shared by 8 analysts. However, the standard deviation of short term price estimate has been valued at 0.56. The target price could hit $4 on the higher end and $3 on the lower end.

Many analysts have stated their opinion on the company shares. Roth Capital downgrades their rating on the shares of Glu Mobile (NASDAQ:GLUU). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. Equity Analysts at the Firm lowers the price target to $2.5 per share from $4.15 per share. The rating by the firm was issued on May 4, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Glu Mobile Inc, Mather Ann had sold 25,000 shares worth of $59,000 in a transaction dated June 2, 2016. In this transaction, 25,000 shares were sold at $2.36 per share.

Glu Mobile (NASDAQ:GLUU) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.04 points or 1.77% at $2.22 with 1,861,647 shares getting traded. Post opening the session at $2.25, the shares hit an intraday low of $2.2 and an intraday high of $2.28 and the price was in this range throughout the day. The company has a market cap of $294 million and the number of outstanding shares have been calculated to be 132,309,543 shares. The 52-week high of Glu Mobile (NASDAQ:GLUU) is $6.75 and the 52-week low is $1.98.

Glu Mobile Inc. develops, publishes and markets a portfolio of games. The Company offers games to a cross section of 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 and Amazon Appstore, among others. The Company creates games based on its own brands, including Blood & Glory, Contract Killer, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros and Heroes of Destiny. The Company also creates games based on third-party licensed brands, including Kim Kardashian: Hollywood, Robocop: The Official Game, and Hercules: The Official Game, as well as its own branded games that incorporate third-party licensed brands, properties and other content, such as Racing Rivals and Tap Sports: Baseball. It released around 16 free-to-play games. It has around eight global studios that create and develop its games.

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