In a research report issued today, Roth Capital analyst Darren Aftahi reiterated a Buy rating on shares of Glu Mobile (NASDAQ:GLUU), with a price target of $5.25, after the Company’s Chief Operating Officer & Chief Financial Officer Eric Ludwig participated in a “fireside chat” Q&A session at the ROTH Capital 28th Annual Conference in California Tuesday.
Aftahi observed, “A lot of the narrative surrounding FLC: Rivals with investors has been around the performance of rankings in beta, thus far. We learned that much of management’s focus with the game in beta has been around load times and latency, and not so much monetization. As such, with a few more months until “expected” launch (slated for late 2Q for North America, Australia and New Zealand), we will be closely watching for improvement in monetization metrics.”
Furhtermore, “One large opportunity we would highlight from our fireside chat with management was the integration of social features into its games, allowing for players to interact with other players and compete against one another. We believe its relationship with Tencent (TCEHY-NC) should help in this regard, and we expect these features to be prevalent in its FLC: Rivals game.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Darren Aftahi has a total average return of -5.7% and a 46.9% success rate. Aftahi has a 6.5% average return when recommending GLUU, and is ranked #3373 out of 3809 analysts.
Out of the 7 analysts polled by TipRanks (in the past 3 months), 6 rate Glu Mobile stock a Buy, while 1 rates the stock a Hold. With a return potential of 34%, the stock’s consensus target price stands at $4.83.