Fly News Breaks for September 24, 2019
Sep 24, 2019 | 05:14 EDT
Piper Jaffray analyst Michael Olson lowered his estimates for Glu Mobile to remove future titles, consistent with the company's go forward guidance policy. The analyst now assumes no contribution from new titles, Disney Sorcerer's Arena, Deer Hunter Next, and Originals in his fiscal 2020 estimates. He estimates new titles could add revenue of $50M or more in 2020, but notes this will be dependent on the timing of launch during the year and level of gamer engagement and monetization. However, Olson believes Glu Mobile shares largely reflects these issues and that the setup for 2020 is favorable. He keeps an Overweight rating on the name.
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