Glu Mobile (GLUU) PT Raised to $11 at Benchmark
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Benchmark analyst Mike Hickey raised the price target on Glu Mobile (NASDAQ: GLUU) to $11.00 (from $10.00) while maintaining a Buy rating.
The analyst commented, "GLUU delivered better than expected F1Q20 performance, initiated a massive F2Q20 view versus consensus and raised their FY20 guidance. Shelter in place virus containment strategy has boosted players, engagement and monetization of GLUU's games. GLUU found lower CPIs since Mid-March that enabled to accelerate investment in their game portfolio and support the launch of Disney Sorcerer's Arena. Growth games exceeded our expectations, led by Tap Sports Baseball that grew an astonishing 21% in the quarter. We anticipate an ongoing in-home entertainment trend will benefit GLUU's game portfolio including growth games Tap Sports Baseball, Design Home, Covet Fashion, catalog games including Kim Kardashian: Hollywood and new games including Diner DASH Adventures and Disney Sorcerer's Arena. GLUU successfully extended their licensing deal with Kim Kardashian through FY23; the game was up 25%. We are excited GLUU will become more active in the M&A market, where they have a track record of driving accretive deals. GLUU ended F1Q20 with $115M in cash."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bandhan Bank Ltd. (BANDHAN:IN) PT Lowered to INR449 at Goldman Sachs
- IAMGOLD Corp (IMG:CN) (IAG) PT Raised to Cdn$4.50 at Canaccord Genuity
- Select Harvests Limited (SHV:AU) (SHVTF) PT Raised to AUD8.70 at UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!