GLUU - Glu closes up 27.3% as bulls process bullish bookings results

Glu Mobile (GLUU) finished the day up 27.3%, and touching its highest point since August, after the company logged record revenue and beat bookings expectations with its Q3 report. That led to bulls reupping their stances. KeyBanc raised its target slightly, to $11 from $10, implying another 25% upside to be had. The firm pointed to the bookings beat for Q3, accompanied by significant margin expansion; it's raising its 2021 estimates considerably. Piper Sandler reiterated its Overweight rating, though it adjusted its price target down to $10 from $11. It also pointed to bookings and EBITDA coming in ahead of consensus, as well as bullish guidance for Q4, and looks ahead to next year's slate (up to four launches in 2021). Overall the Street is Very Bullish on Glu, as are Seeking Alpha authors. The stock has a Quant Rating of Neutral.

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Glu closes up 27.3% as bulls process bullish bookings results