UPDATE - Canaccord Genuity Initiates Coverage on Glu Mobile (GLUU) with a Buy; Mobile Gaming Pure-Play
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Price: $12.50 --0%
Rating Summary:
4 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Canaccord Genuity initiates coverage on Glu Mobile (Nasdaq: GLUU) with a Buy rating. PT $7.
Analyst, Michael Graham, said, "Glu Mobile offers pure-play exposure to mobile gaming and smartphone growth. In addition, the company is early in executing on a compelling strategy change, with much of the heavy lifting already done. Finally, we believe the valuation is quite attractive relative to most comparables...Glu trades at less than 2x next year’s projected revenue (40% of Zynga’s (Nasdaq: ZNGA) 5x). Our $7.00 price target is based on 30x our 2014 EPS estimate of $0.33, discounted to present at a rate of 12.8%. "
To see more ratings on GLUUX, Click Here
Analyst, Michael Graham, said, "Glu Mobile offers pure-play exposure to mobile gaming and smartphone growth. In addition, the company is early in executing on a compelling strategy change, with much of the heavy lifting already done. Finally, we believe the valuation is quite attractive relative to most comparables...Glu trades at less than 2x next year’s projected revenue (40% of Zynga’s (Nasdaq: ZNGA) 5x). Our $7.00 price target is based on 30x our 2014 EPS estimate of $0.33, discounted to present at a rate of 12.8%. "
To see more ratings on GLUUX, Click Here
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