GameStop (NYSE:GME) PT Raised to $50.00

GameStop (NYSE:GME) had its price target upped by Wedbush from $39.00 to $50.00 in a research report report published on Thursday, Analyst Price Targets reports. They currently have an underperform rating on the stock.

Several other research analysts have also recently weighed in on GME. Ascendiant Capital Markets restated a sell rating on shares of GameStop in a research report on Monday, April 19th. Credit Suisse Group reaffirmed a sell rating on shares of GameStop in a report on Thursday, April 1st. Zacks Investment Research lowered shares of GameStop from a buy rating to a hold rating and set a $203.00 target price for the company. in a report on Friday, March 26th. Finally, Telsey Advisory Group lowered their target price on shares of GameStop from $33.00 to $30.00 and set an underperform rating for the company in a report on Wednesday, March 24th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has an average rating of Sell and a consensus price target of $44.86.

GME stock opened at $220.39 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.16 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $188.00. GameStop has a fifty-two week low of $3.77 and a fifty-two week high of $483.00. The company has a market cap of $15.60 billion, a PE ratio of -65.20 and a beta of -2.07.

GameStop (NYSE:GME) last posted its quarterly earnings data on Tuesday, June 8th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.38. GameStop had a negative net margin of 4.23% and a negative return on equity of 35.57%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted ($1.61) EPS. GameStop’s revenue was up 25.1% on a year-over-year basis. On average, equities research analysts anticipate that GameStop will post -0.95 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in GME. Morgan Stanley grew its holdings in shares of GameStop by 114.2% in the 4th quarter. Morgan Stanley now owns 4,275,838 shares of the company’s stock valued at $80,556,000 after buying an additional 2,279,996 shares during the period. Senvest Management LLC grew its holdings in shares of GameStop by 56.6% in the 4th quarter. Senvest Management LLC now owns 5,050,915 shares of the company’s stock valued at $95,159,000 after buying an additional 1,825,175 shares during the period. BlackRock Inc. grew its holdings in shares of GameStop by 7.2% in the 4th quarter. BlackRock Inc. now owns 9,217,335 shares of the company’s stock valued at $173,656,000 after buying an additional 616,828 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of GameStop in the 1st quarter valued at $31,985,000. Finally, Clear Creek Financial Management LLC acquired a new position in shares of GameStop in the 4th quarter valued at $2,780,000. 36.56% of the stock is owned by institutional investors.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its e-commerce properties and various stores in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game platforms; accessories, such as controllers, gaming headsets, virtual reality products, and memory cards; new and pre-owned video game software; and in-game digital currency, digital downloadable content, and full-game downloads, as well as network points cards, and prepaid digital and subscription cards.

Further Reading: Systematic Risk and Investors

Analyst Recommendations for GameStop (NYSE:GME)

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