Wedbush reiterated their buy rating on shares of GameStop (NYSE:GME) in a report published on Tuesday morning, AnalystRatings.com reports. Wedbush currently has a $8.00 target price on the stock. Wedbush also issued estimates for GameStop’s Q4 2020 earnings at $0.69 EPS and FY2020 earnings at ($0.20) EPS.
A number of other brokerages also recently weighed in on GME. Robert W. Baird dropped their price objective on GameStop from $6.00 to $5.00 and set a neutral rating on the stock in a research report on Wednesday, December 11th. Credit Suisse Group dropped their price objective on GameStop from $6.00 to $5.00 and set an underperform rating on the stock in a research report on Wednesday, December 11th. Benchmark reaffirmed a sell rating and set a $3.00 price objective on shares of GameStop in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group raised their price objective on GameStop from $5.00 to $6.00 and gave the company a market perform rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $6.15.
GME stock traded up $0.13 during trading on Tuesday, reaching $4.75. 4,016,024 shares of the company traded hands, compared to its average volume of 4,762,184. GameStop has a 12 month low of $3.15 and a 12 month high of $16.90. The business has a 50 day simple moving average of $5.85 and a 200 day simple moving average of $5.13. The company has a market capitalization of $306.39 million, a price-to-earnings ratio of 2.22 and a beta of 0.47. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.37 and a current ratio of 1.18.
GameStop (NYSE:GME) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.55). GameStop had a negative net margin of 9.27% and a positive return on equity of 8.27%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the business earned $0.36 EPS. GameStop’s revenue for the quarter was down 25.7% compared to the same quarter last year. As a group, research analysts forecast that GameStop will post 0.14 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in GameStop by 118.6% in the third quarter. Parallel Advisors LLC now owns 4,459 shares of the company’s stock worth $25,000 after acquiring an additional 2,419 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in GameStop by 134.3% in the third quarter. FNY Investment Advisers LLC now owns 5,622 shares of the company’s stock worth $31,000 after acquiring an additional 3,222 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in GameStop in the third quarter worth about $47,000. Bank of Montreal Can boosted its holdings in GameStop by 274.9% in the second quarter. Bank of Montreal Can now owns 9,605 shares of the company’s stock worth $52,000 after acquiring an additional 7,043 shares in the last quarter. Finally, Edge Wealth Management LLC acquired a new stake in GameStop in the third quarter worth about $55,000. 99.05% of the stock is owned by institutional investors and hedge funds.
GameStop Corp. operates as a multichannel video game and consumer electronics retailer in the United States, Canada, Australia, and Europe. The company sells new and pre-owned video game hardware; video game software; pre-owned and value video games; video game accessories, including controllers, gaming headsets, virtual reality products, memory cards, and other add-ons for use with video game hardware and software; and digital products, such as downloadable content, network points cards, prepaid digital and prepaid subscription cards, and digitally downloadable software, as well as collectible products.
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