Wed, Sep. 23, 12:17 PM
- Cowen & Co. analyst Doug Creutz likes what he sees from Glu Mobile's (NASDAQ:GLUU) games so far, saying that the brand new Deer Hunter 2016 is setting the game maker up well for a critical Q4.
- He maintains an Outperform rating and has a price target of $8; shares are trading currently at $4.76, implying 68% upside from here.
- Deer Hunter 2016 hit No. 1 for iOS downloads and entered the top 20 grossing apps in the U.S. after its release last week.
- "We think DH16 is on track to do at least as well initially as DH14 did, and we think the game could well have better legs, based on the improvements Glu has made to its ability to update games and retain players,” he writes. While the 2014 edition peaked at No. 4 in monetization, Creutz thinks monetization levels outside the top two games are much higher overall now.
- Along with Kim Kardashian, the company added Nicki Minaj and Jason Statham to its celebrity game stable last month, and put out a mobile game based on Mission: Impossible -- Rogue Nation in July.
- Related: Glu Mobile: Initial Deer Hunter 2016 Success Sets Up Strong End Of Year (Sep. 22 2015)
Thu, Sep. 3, 5:23 PM
- In an SEC filing, Glu Mobile (NASDAQ:GLUU) confirms it's expanded its board to nine members, adding Greg Brandeau.
- Brandeau, the former CTO at Walt Disney Animation Studios and former SVR of Technology for Pixar, is a class III, non-employee director at Glu.
- Brandeau also currently serves as COO for Chromatik.
- Shares of Glu had moved up 1.8% during market hours and are up 1.4% after hours.
Wed, Aug. 5, 11:22 AM
- Glu Mobile (NASDAQ:GLUU) is tanking today, -16% after its Q2 earnings report contained third-quarter guidance well below expectations.
- Benchmark cut its price target on the stock to $6.58 (from $7.64). Shares closed yesterday at $5.67 and are currently trading at $4.76, implying a (lowered) 38% upside.
- On the company earnings call, CEO Niccolo de Masi expressed excitement around the company's new deals with Nicki Minaj and Jason Statham, pointing to the celebrities' social followings (100M and 50M respectively).
- The company's take from its largest title, celebrity-focused game Kim Kardashian: Hollywood, was $18M in revenues, or 31% of its total.
Wed, Aug. 5, 9:19 AM
- Gainers: FNJN +60%. BIOC +13%. FSLR +11%. KATE +9%. Z +9%. HRB +8%. OAS +8%. TSEM +8%. PCLN +7%. SLTD +7%. MSI +6%. ATVI +6%. SUPN +6%. LC +6%. CTSH +6%. BBL +6%. SDRL +5%.
- Losers: SALE -33%. OHGI -28%. LL -24%. BOOT -23%. ETSY -20%. TRMB -13%. GLUU -10%. RSO -10%. DIS -9%. NYMT -7%. MEMP -7%. GNW -7%. PWR -7%. CERN -6%. PZZA -6%.
Tue, Aug. 4, 5:38 PM
Tue, Aug. 4, 4:59 PM
- Glu Mobile (NASDAQ:GLUU) has sunk after hours, -8.1%, as it issued third-quarter guidance well below analyst expectations even as it beat on Q2 revenues and profits.
- The game maker logged EBITDA of $1.7M, well ahead of an expected -$3.8M. Gross margin (non-GAAP) was 63%, down from last year's 39%.
- Cash and equivalents at quarter's end were $189.7M, mainly due to selling 21M shares to Tencent's Red River Investment Limited.
- Glu announced it added to its celebrity lineup with new exclusive deals with Nicki Minaj and actor Jason Statham (its first male celebrity partner). It says the total social following of its celebrity titles (led by Kim Kardashian: Hollywood) expected live by end of 2016 is nearing 650M.
- The company's guiding to Q3 revenues of $58M-$60M, well below a consensus of $73M, and EPS of -$0.02 to $0.00 vs. an expected $0.04. It's forecasting EBITDA of -$1M to $1M vs. an expected $12M.
- For the full year, it sees revenue of $267M-$282M, EBITDA of $22.5M-$27.5M, and net income between $18.7M-$23.7M.
- Conference call link
- Press Release
Tue, Aug. 4, 4:13 PM
Mon, Aug. 3, 5:35 PM
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Thu, Jul. 16, 2:59 PM
- Glu Mobile (NASDAQ:GLUU) is up 4.3% as it rolls out its mobile game based on the film Mission: Impossible -- Rogue Nation, which is due in theaters July 31.
- The game, which incorporates first-person and third-person shooter elements, is free to play and features in-app products ranging from $0.99 to $99.99 per item.
- It's part of ongoing collaboration with Paramount (VIA, VIAB). Last month, the company released a third-person shooter tied to Terminator: Genisys, which is in theaters now.
Fri, May 15, 12:00 PM
- Glu Mobile (NASDAQ:GLUU) is up 3.4% following an analyst day that prompted Piper Jaffray and Canaccord to raise price targets on the stock, as Glu gave a look-ahead at forecasts for revenue and margins through 2020.
- Piper raised its target to $9, from $7.50, praising Glu's exclusive content that enables a more visible development pipeline. It holds an Overweight rating.
- A back-loaded pipeline for 2015 still looks strong and should provide some diversity that offsets an expected decline in Kim Kardashian: Hollywood. Piper notes that Glu sees potential revenue run rate of $1.3B-$1.7B and EBITDA margin of 20-25% by 2020.
- Canaccord Genuity raised its price target on shares to $9 as well. It maintains a Buy rating.
- Yesterday, Vetr upgraded the shares From Hold to Buy, just over a week after raising them from Sell to Hold. Vetr has a price target of $7.35.
- Shares are trading currently at $6.69.
Mon, May 11, 3:28 PM
- Following runaway success in 2014 for its mobile game Kim Kardashian: Hollywood, Glu Mobile (GLUU +2%) is looking to goose some declining grosses with a new campaign on TV and YouTube.
- The TV ad features Kim, while the YouTube campaign is an in-game competition among a number of YouTube creators run by Maker Studios -- which will include the YouTubers spreading the results to their combined 46M followers on YouTube and Twitter.
- The TV ad is set for major metro markets.
- Previously: Glu Mobile sells off; Piper reiterates rating (May. 05 2015)
- Previously: Glu +15.9%; Tencent investing $126M, Britney Spears game planned (Apr. 29 2015)
Tue, May 5, 3:22 PM
- Glu Mobile (NASDAQ:GLUU) is down 4.4% late today on near double volume in some likely profit taking after last week's 16% post-earnings gain.
- Piper Jaffray reiterated its Average rating, noting the company logged a strong Q1 and that game Kim Kardashian: Hollywood had a better than expected trajectory.
- Piper has a price target on GLUU of $7.50; shares are currently trading at $6.68.
Thu, Apr. 30, 12:45 PM
Thu, Apr. 30, 9:19 AM
Wed, Apr. 29, 5:37 PM
Wed, Apr. 29, 4:33 PM
- Along with its Q1 results, Glu Mobile (NASDAQ:GLUU) announces Chinese gaming/messaging giant Tencent (OTCPK:TCEHY) is investing $126M in the company through the purchase of 21M shares at $6 apiece. Tencent will own 14.6% of Glu once the deal closes, and Glu will have a $190M cash balance.
- With Tencent's WeChat mobile messaging platform (~500M MAUs) nearly ubiquitous in China and the company claiming a massive share of the Chinese online/mobile gaming market, the alliance could significantly increase the Chinese reach of Glu's games. Tencent exec Steven Ma will be joining Glu's board.
- Also announced: Glu is partnering with Britney Spears to launch a new mobile game in 1H16. A 5-year exclusive agreement has been reached with the singer; it features a 3-year extension. The deal comes 3 months after one with Katy Perry, and follows the huge 2014 success of Kim Kardashian: Hollywood.
- Glu now expects 2015 revenue of $262M-$287M and EPS of $0.20-$0.24 vs. a consensus of $265.6M and $0.25. Q2 guidance is for revenue of $50M-$52M and EPS of -$0.03 to -$0.05 vs. a consensus of $50.9M and -$0.02.
- The company states its Q1 beat was "driven by the ongoing traction of Kim Kardashian: Hollywood, Racing Rivals, Deer Hunter 2014, and Contract Killer: Sniper." Its strong full-year sales guidance is attributed to an upcoming game lineup that includes "Terminator, Cooking Dash, Deer Hunter 2016, James Bond: 007 and Katy Perry."
- Glu has surged to $6.26 AH. Q1 results, earnings release.
GLUU vs. ETF Alternatives
Glu Mobile Inc develops, publishes & markets games designed to appeal to users of smartphones & tablet devices. Its gaming brands include Blood & Glory, Contract Killer, Deer Hunter, Eternity Warriors, Frontline Commando, Gun Bros, & Heroes of Destiny.
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