Northland Capital Remains Buyers of Glu Mobile (GLUU) on Potential Q4 Upside

Northland Capital Markets analyst Darren Aftahi reiterated an Outperform rating and $7 price target on Glu Mobile (NASDAQ: GLUU), saying their proprietary analysis points to Q4 upside.

Aftahi commented, "Our proprietary analysis suggests GLUU generated ~$65.6M in non-GAAP revenue, providing potential upside to management’s guidance of $60M-$65M and our estimate of $63.3M. We also continue to believe that FY15 guidance remains conservative, as FY15 midpoint revenue guidance of $240M (implies ~5.2% y/y growth) assumes no real meaningful “needle movers”. We would continue to be buyers of GLUU shares, as we reiterate our OP rating & $7 PT."

For an analyst ratings summary and ratings history on Glu Mobile click here. For more ratings news on Glu Mobile click here.

Shares of Glu Mobile closed at $3.64 yesterday.

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