GameStop Corp. PT Raised to $60.00 (GME)
Analysts at Oppenheimer increased their target price on shares of GameStop Corp. (NYSE:GME) from $50.00 to $60.00 in a research report issued to clients and investors on Tuesday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 25.79% from the company’s current price.
The analysts wrote, “GameStop has recently represented one of our top picks within the Hardlines Sector. In our view GME is uniquely well positioned to capitalize upon the forthcoming launches of Microsoft Xbox One and Sony Playstation 4 and related software. Shares have performed well lately. Many clients are now asking, where does GME go from here? We have reviewed data points and stress-tested our GameStop model. Our conclusion: GME still has room to move higher. Street EPS forecasts for GameStop remain too conservative, in our view. Shares continue to trade at a meaningful discount to the valuations of other leading hardlines retailers, and multiples achieved in prior product cycles. Our new $60 price target (up from $50) suggests upside of more than 25% from current levels.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee raised their price target on shares of GameStop Corp. to $55.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at SunTrust raised their price target on shares of GameStop Corp. from $44.00 to $54.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Telsey Advisory Group raised their price target on shares of GameStop Corp. from $46.00 to $58.00 in a research note to investors on Friday. They now have a “not rated” rating on the stock.
Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.83.
GameStop Corp. (NYSE:GME) traded up 1.19% on Tuesday, hitting $48.27. The stock had a trading volume of 923,512 shares. GameStop Corp. has a one year low of $17.94 and a one year high of $51.36. The stock has a 50-day moving average of $45.6 and a 200-day moving average of $35.15. The company’s market cap is $5.678 billion.
GameStop Corp. (NYSE:GME) last posted its quarterly earnings results on Thursday, May 23rd. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the company posted $0.54 earnings per share. GameStop Corp.’s revenue was down 6.8% compared to the same quarter last year. On average, analysts predict that GameStop Corp. will post $3.15 earnings per share for the current fiscal year.
GameStop Corp. (NYSE:GME) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.