Glu +9.1%; Cowen hikes estimates due to Kardashian game


With Kim Kardashian: Hollywood turning into a blockbuster, Cowen has respectively hiked its 2014 Glu Mobile (NASDAQ:GLUU) revenue and EPS forecasts to $212M and $0.26 from $159.5M and $0.03. Consensus is currently at $164.1M and $0.04.

Cowen's target has been raised by $4 to $10. The firm recently argued the Kardashian game could yield $200M in annual revenue.

Meanwhile, SA author Mark Gomes (bullish on Glu for some time) is out with another upbeat column: Aside from the Kardashian game, Gomes is a fan of Glu's "engine-based R&D philosophy" (lowers development costs) and game monetization approach, as well as an M&A strategy he thinks is "on track to yield hundreds of millions in revenue from just two acquisitions."

App Annie respectively has Kim Kardashian: Hollywood at #1 and #4 on its U.S. iPhone free and top-grossing download charts. On Google Play, it's #25 and #13.

Glu's Q2 results are due on July 30. Shares now +96% since the Kardashian game launched on June 25.

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Comments (3)
  • Mark Gomes
    , contributor
    Comments (2628) | Send Message
     
    Yet another great day for GLUU shareholders and PTT Research subscribers! You can see ALL of my GLUU research here: http://bit.ly/1yQGExF

     

    Also be sure to read about how we help investors become millionaires for free: http://seekingalpha.co...

     

    Good fortune to all!

     

    Mark G.
    21 Jul 2014, 12:20 PM Reply Like
  • chammond63
    , contributor
    Comments (136) | Send Message
     
    Only in America
    21 Jul 2014, 12:20 PM Reply Like
  • rafruano
    , contributor
    Comments (145) | Send Message
     
    Gotta luv it!...unless yer short!!
    21 Jul 2014, 01:32 PM Reply Like
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