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Glu Mobile +6.2% as analysts weigh in on bookings

Aug. 02, 2017 2:01 PM ETGlu Mobile Inc. (GLUU) StockGLUUBy: Jason Aycock, SA News Editor5 Comments
  • Glu Mobile (NASDAQ:GLUU) is up 6.2% after its Q2 earnings featured raised guidance for bookings, and with Cowen reiterating its Outperform rating on the stock in response.
  • Cowen bumped its price target to $3.50 from $3, implying 20% upside.
  • Canaccord Genuity, meanwhile, reiterated its Hold rating and $3 target (Glu is up to $2.91 today). While the company's bookings and implied EBITDA beat consensus and engagement hit a new record of 15%, monthly active users continued their year-over-year decline (albeit at a slower pace).
  • The firm raised its estimates for bookings and EBITDA accordingly, but kept its target at a 1x multiple to its 2018 bookings estimate of $341M.

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GLUU--
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