Shares of Glu Mobile Inc. (NASDAQ:GLUU) fell in pre-market trading after the company issued disappointing third quarter guidance, while Etsy Inc (NASDAQ:ETSY) and Walt Disney Co (NYSE:DIS) also dropped following earnings. On the other hand, Zillow Group Inc (NASDAQ:Z) shot up in pre-market trading after the company released an impressive earnings report.
Glu Mobile Inc.
Glu Mobile dropped 10.41% in pre-market trading to $5.08 after the company issued weak third quarter guidance in its second quarter earnings report on August 4 after market close. The company said it expects to post a loss of ($0.02) per share on revenue between $58 million to $60 million. The Street expects Glu Mobile to post earnings of $0.08 per share on $73.75 million for the third quarter. Additionally, the company forecasts full-year revenue between $267 million to $282 million while analysts’ estimate $280.08 million. Out of 6 analysts polled by TipRanks within the last 3 months, all 6 are bullish on Glu Mobile. The average 12-month price target for GLUU is $9.10, marking a 60.49% potential upside from where the stock last closed.
Zillow Group Inc
Zillow shares shot up 11.39% in pre-market trading to $82.65 after the company posted impressive second quarter results. Zillow posted quarterly revenue of $171.3 million, beating the analyst estimate of $168.7 million and marking a 20% year-over-year increase. Likewise, the company posted an adjusted loss of ($0.01) per share, much narrower than the analyst estimate of a loss of ($0.26) per share. Furthermore, Zillow announced it is on track to integrate Trulia, a competitor acquired by Zillow in February, by the end of the third quarter. Zillow expects the acquisition to save about $100 million in cost synergies by the end of 2016. As of this writing, TipRanks recorded 9 analysts with ratings on Zillow in the past quarter. Of the 9 analysts, 4 are bullish, 3 are neutral, and 2 are bearish. The average 12-month price target on the stock is $103, marking a 38% potential upside from where the stock last closed.
Etsy shares sunk more than 16% in pre-market trading to $16.08 after it released its first earnings report as a publicly traded company. Although earnings beat analysts’ expectations, the company warned that currency exchange rates will negatively impact third quarter earnings if they stay at current levels. Furthermore, Etsy had a heavy bill for investments and marketing expenses, which won’t abate in the coming quarter as Etsy has plans to continue hiring and marketing efforts. Etsy posted a second quarter loss of ($0.07) per share on revenue of $61.4 million, ahead of analysts’ estimates of ($0.08) and $59.57 million, respectively. As of this writing, TipRanks has polled 4 analysts on the stock in the last 3 months. Out of the 4 analysts, 1 is bullish, 2 are neutral, and 1 is bearish. The average 12-month price target for ETSY is $17, marking a -11% potential downside from where the stock last closed.
Walt Disney Co
Disney plummeted -6.74% in pre-market trading to $113.49 after the company’s third quarter 2015 revenue missed analysts’ expectations. Disney posted revenue of $13.1 billion, marking a 5% increase year over-year. However, analysts’ estimated the company would post $13.22 billion in revenue. Disney attributed the revenue miss to unfavorable exchange rates. On a positive note, Disney beat the Street’s EPS estimate of $1.42 per share, posting $1.45 earnings per share. Out of 16 analysts polled by TipRanks within the last 3 months, 10 analysts are bullish on Disney and 6 are neutral. The average 12-month price target for DIS is $118.60, marking a -2.54% potential downside from where the stock last closed.