GameStop (GME) Price Target Cut to $17.00

GameStop (NYSE:GME) had its price target cut by analysts at Telsey Advisory Group from $19.00 to $17.00 in a note issued to investors on Thursday. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 34.71% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wedbush set a $23.00 price target on GameStop and gave the stock a “buy” rating in a research note on Monday, March 26th. Loop Capital set a $26.00 price objective on GameStop and gave the stock a “buy” rating in a report on Wednesday, March 21st. ValuEngine raised GameStop from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research cut GameStop from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Finally, Bank of America cut GameStop from a “neutral” rating to an “underperform” rating and set a $11.00 price objective on the stock. in a report on Thursday. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. GameStop currently has a consensus rating of “Hold” and a consensus target price of $19.78.

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GME stock opened at $12.62 on Thursday. The company has a quick ratio of 0.38, a current ratio of 1.33 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1,278.46, a PE ratio of 3.78, a PEG ratio of 0.26 and a beta of 1.26. GameStop has a fifty-two week low of $12.20 and a fifty-two week high of $25.31.

GameStop (NYSE:GME) last posted its quarterly earnings results on Wednesday, March 28th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.06. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.33 billion. GameStop had a return on equity of 14.87% and a net margin of 0.38%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.38 EPS. equities analysts forecast that GameStop will post 3.18 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC purchased a new stake in shares of GameStop in the 4th quarter valued at about $14,360,000. American International Group Inc. raised its holdings in shares of GameStop by 226.2% in the 4th quarter. American International Group Inc. now owns 761,049 shares of the company’s stock valued at $13,661,000 after acquiring an additional 527,712 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of GameStop by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,894,420 shares of the company’s stock valued at $51,956,000 after acquiring an additional 527,083 shares in the last quarter. BlackRock Inc. raised its holdings in shares of GameStop by 5.5% in the 4th quarter. BlackRock Inc. now owns 8,860,599 shares of the company’s stock valued at $159,047,000 after acquiring an additional 462,977 shares in the last quarter. Finally, Aperio Group LLC raised its holdings in shares of GameStop by 87.0% in the 4th quarter. Aperio Group LLC now owns 963,757 shares of the company’s stock valued at $17,299,000 after acquiring an additional 448,416 shares in the last quarter.

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GameStop Company Profile

GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.

Analyst Recommendations for GameStop (NYSE:GME)

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