Next in line is Katy Perry, followed by Kylie & Kendall Jenner and Britney Spears, before Nicki’s launches mid-next year. Northland Securities restated a “buy” rating and set a $9.50 target price on shares of Glu Mobile in a report on Monday, July 6th. That’s important because those celebrities can tweet about Glu’s games and reach a huge number of people at low cost.
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Glu had much success with the mobile game “Kim Kardashian: Hollywood”, taking into account the model’s 102 million Twitter followers. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The first-person shooter will feature Statham’s likeness and voice. Statham marks Glu’s first male celebrity partner, and it hopes that he will “bring a new audience demographic to the company’s growing celebrity gaming portfolio”. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company has a market cap of $682.29 million and a P/E ratio of 66.71. Estimates had Glu losing 4 cents a share off revenue of $51.5 million.
The game was expected to rake in $200 million last year, and has been so successful that, in April, it actually caused Glu to raise its revenue outlook for the full year to between $262 million and $287 million. On average, equities analysts expect that Glu Mobile Inc. will post $0.22 earnings per share for the current fiscal year. No other details on the game were revealed.
That, in turn, will give Minaj, like Kardashian, powerful tools to promote her game without spending a lot of money. “We were also pleased with the robust performance of Tap Sports Baseball 2015 and Cooking Dash 2016 out of the gates”, Niccolo de Masi, Chairman and Chief Executive Officer of Glu, said in a statement.
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The trash-talking rapper will launch a video game for smartphones in mid-2016 in a partnership with Glu Mobile, the San Francisco-based developer of the smash hit “Kim Kardashian: Hollywood“, which has reportedly netted its namesake star tens of millions of dollars in royalties.
