Wedbush Downgrades Glu Mobile (GLUU) to Hold


Glu Mobile (GLUU) received a Hold rating and a $12.50 price target from Wedbush analyst Michael Pachter today. The company’s shares closed last Monday at $9.39.

According to TipRanks.com, Pachter is a 4-star analyst with an average return of 10.0% and a 63.4% success rate. Pachter covers the Technology sector, focusing on stocks such as Alphabet Class A, Corsair Gaming, and Unity Software.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Glu Mobile with a $11.41 average price target.

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Glu Mobile’s market cap is currently $1.62B and has a P/E ratio of 306.30. The company has a Price to Book ratio of 5.81.

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.

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. It operates through the following geographical segments: United States of America, Americas excluding United States of America; Europe, the Middle East, and Africa; and Asia Pacific. The company was founded by Paul Zuzelo in May 2001 and is headquartered in San Francisco, CA.

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