Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, today announced the company has partnered with GRAMMY award-winning artist, Taylor Swift, on the development of a new mobile game. Swift will work exclusively with Glu as part of a multi-year partnership to develop and create a new, one-of-a-kind digital gaming experience. This is Swift’s first foray into the mobile gaming space following her 2015 Emmy award win for Best Original Interactive Program.
“Bringing with her over 227 million social followers*, I am thrilled to welcome Taylor Swift, an award-winning singer, musician and songwriter, to Glu’s family,” saidNiccolo de Masi, Glu Chairman and CEO. “We realize that Taylor and her global fan base expect a new and highly differentiated mobile gaming experience,” continued de Masi. “Glu is equally committed to designing never before seen gameplay elements that utilize Taylor’s unique creativity. Accordingly, we will spend the required development time to ensure this innovation is achieved.”
Taylor Swift’s achievements have been recognized industry-wide, which include seven GRAMMY awards, 19 American Music Awards, 11 Country Music Association awards, 9 Academy of Country Music awards, 22 Billboard Music awards, one Brit award, one Emmy award, and 25 Teen Choice Awards. She is the only woman in history to be named Billboard Magazine’s ‘Woman of the Year’ twice, in 2011 and most recently in 2014. In 2015, she was named one of Time Magazine’s ‘100 Most Influential People in the World.’ In the fall of 2014, Swift released her fifth studio album, 1989, which sold 1.3 million copies in its first week making it the top-selling album of the year and Swift is the only artist in history to have three albums sell over one million albums their debut week. By the close of 2015, Taylor Swift had sold over 40 million albums worldwide during the course of her extraordinary career.
Currently slated for global release in late 2016, Glu will provide additional details regarding the game’s development and Taylor Swift’s involvement at a later date.
* Taylor Swift’s social audience as of February 2, 2016: 74 million on Facebook, 70.4 million on Twitter, 64.8 million on Instagram, and 18 million on Vevo. There is some fan overlap among these social channels. (Original Source)
Shares of Glu Mobile are up nearly 23% in after-hours trading. GLUU has a 1-year high of $7.03 and a 1-year low of $1.98. The stock’s 50-day moving average is $2.40 and its 200-day moving average is $3.81.
On the ratings front, Glu Mobile has been the subject of a number of recent research reports. In a report issued on January 27, Wedbush analyst Michael Pachter maintained a Hold rating on GLUU, with a price target of $3.30, which represents a potential upside of 54.2% from where the stock is currently trading. Separately, on December 28, Cowen’s Doug Creutz reiterated a Buy rating on the stock and has a price target of $5.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Pachter and Doug Creutz have a total average return of -9.9% and 9.0% respectively. Pachter has a success rate of 34.5% and is ranked #3537 out of 3600 analysts, while Creutz has a success rate of 50.0% and is ranked #568.
The street is mostly Neutral on GLUU stock. Out of 7 analysts who cover the stock, 4 suggest a Hold rating and 3 recommend to Buy the stock. The 12-month average price target assigned to the stock is $4.23, which represents a potential upside of 97.7% from where the stock is currently trading.
Glu Mobile Inc develops, publishes & markets games designed to appeal to users of smartphones & tablet devices. Its gaming brands include Blood & Glory, Contract Killer, Deer Hunter, Eternity Warriors, Frontline Commando, Gun Bros, & Heroes of Destiny.