Wedbush Analysts Give GameStop (NYSE:GME) a $9.00 Price Target

Wedbush set a $9.00 target price on GameStop (NYSE:GME) in a research note released on Thursday morning, Stock Target Advisor reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group set a $12.00 price target on shares of GameStop and gave the company a hold rating in a report on Friday, March 22nd. Credit Suisse Group lowered their target price on shares of HollyFrontier from $63.00 to $61.00 and set a neutral rating on the stock in a report on Wednesday, April 3rd. Loop Capital assumed coverage on shares of TENCENT HOLDING/ADR in a report on Monday, June 3rd. They issued a buy rating on the stock. Ascendiant Capital Markets lowered shares of GameStop from a buy rating to a hold rating and set a $4.00 target price on the stock. in a report on Wednesday, June 5th. Finally, Bank of America set a $4.00 target price on shares of GameStop and gave the stock a sell rating in a report on Wednesday, June 5th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $9.20.

Shares of GameStop stock opened at $4.91 on Thursday. The company has a market cap of $502.14 million, a price-to-earnings ratio of 2.19 and a beta of 0.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.48 and a quick ratio of 0.59. The firm has a fifty day simple moving average of $5.94. GameStop has a 52-week low of $4.71 and a 52-week high of $17.27.

GameStop (NYSE:GME) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.64 billion. GameStop had a negative net margin of 8.32% and a positive return on equity of 14.55%. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, sell-side analysts forecast that GameStop will post 1.45 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB bought a new stake in shares of GameStop in the 2nd quarter worth about $65,000. First Trust Advisors LP lifted its position in GameStop by 36.2% during the 1st quarter. First Trust Advisors LP now owns 1,034,930 shares of the company’s stock worth $10,515,000 after buying an additional 275,095 shares in the last quarter. FMR LLC lifted its position in GameStop by 0.6% during the 1st quarter. FMR LLC now owns 15,295,131 shares of the company’s stock worth $155,398,000 after buying an additional 93,245 shares in the last quarter. Muhlenkamp & Co. Inc. acquired a new position in GameStop during the 1st quarter worth about $2,367,000. Finally, GMT Capital Corp acquired a new position in GameStop during the 1st quarter worth about $959,000. 98.68% of the stock is currently owned by institutional investors and hedge funds.

About GameStop

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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Analyst Recommendations for GameStop (NYSE:GME)

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