Glu Mobile -28.4% as analysts cut targets on outlook [Seeking Alpha]
GLU MOBILE (GLUU)
Last glu mobile earnings: 2/5 04:02 pm
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Source: Seeking Alpha
Glu Mobile is piling on the premarket decline today, , with analysts weighing in on last night's earnings and substantially short forward guidance on bookings. The Street is staying long-term bullish, but pundits are cutting back price targets accordingly. A delayed Disney game "nukes" Glu's outlook, Benchmark says in cutting its target to $8 from $14 (now implying 5.4% upside). "We do not see any near-term pivot to being more opportunistic over potential deal flow," the firm adds. Cowen backs that up, saying there will be "little interest in shares" until the Disney game, Sorcerer's Arena, makes a successful launch. It's cut its price target to $9 from $11. Both firms are keeping Buy/Outperform ratings, as are Piper Jaffray (target to $7 from $12) and Wedbush (target to $8 from $9). With the sell-side sticking firmly to Buy ratings on average , Seeking Alpha authors are also bullish , but Glu's Quant Rating is Bearish . Earnings call slides Earni
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