Glu Mobile (GLUU): Transitioning Coverage And Expecting Weakness - Wedbush

Wedbush analyst, Nick McKay is assuming coverage of Glu Mobile (NASDAQ: GLUU) with a Neutral rating and reducing the price target to $2.45 (from $2.65). The analyst believes that many of Glu’s recent releases have underperformed the Street’s earlier expectations, which does not bode well for its 2H:16 launches. He expects that shares will likely trade under 1.00x FY:17 consensus revenue until one of the new releases resonates with payers on a sustained basis.

Glu Mobile will report Q2:16 (ending June 30) results after the market close on Tuesday, August 2, and host a conference call at 1:30pm PT (dial-in: 866- 582-8907, conf. ID: #45017918

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 $2.35 yesterday.

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