Glu Mobile Inc. (NASDAQ:GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, today announced Deer Hunter VR, the company’s first title developed exclusively for Oculus, which will initially be available on the Samsung Gear VR, powered by Oculus. Revealed today at the Oculus Connect 2Developer Conference in Los Angeles, Deer Hunter VR brings a new level of immersive gameplay to the most popular hunting franchise. Glu expects to launch Deer Hunter VR before the end of 2015.
“Glu prides itself on being at the forefront of innovation by developing native, unmissable entertainment for new platforms,” said Niccolo de Masi, Glu Chairman and CEO. “With nearly 150 million Deer Hunter 2014 downloads to-date, and Deer Hunter 2016 quickly taking the #1 top free spot in the U.S. App Store after worldwide launch, we look forward to reaching new players through the consumer launch of the Samsung Gear VR.” (Original Source)
Shares of Glu Mobile closed today at $4.88, up $0.05 or 0.93%. GLUU has a 1-year high of $7.03 and a 1-year low of $3.27. The stock’s 50-day moving average is $4.57 and its 200-day moving average is $5.57.
On the ratings front, Glu Mobile has been the subject of a number of recent research reports. In a report released yesterday, Cowen analyst Doug Creutz reiterated a Buy rating on GLUU, with a price target of $8, which represents a potential upside of 66.3% from where the stock is currently trading. Separately, on September 17, The Benchmark Company’s Mike Hickey reiterated a Buy rating on the stock and has a price target of $6.58.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Doug Creutz and Mike Hickey have a total average return of 18.1% and 11.5% respectively. Creutz has a success rate of 57.7% and is ranked #509 out of 3766 analysts, while Hickey has a success rate of 66.1% and is ranked #424.
Overall, 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $8.02 which is 66.7% above where the stock opened today.
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.