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Analysts Are Recommending GameStop Corp. (GME) As A Buy Candidate

GameStop Corp. (NYSE:GME) has a beta value of -0.10 and has seen 7.16 million shares traded in the last trading session. The company, currently valued at $6.41B, closed the last trade at $21.66 per share which meant it gained $2.05 on the day or 10.45% during that session. The GME stock price is -130.15% off its 52-week high price of $49.85 and 28.86% above the 52-week low of $15.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.4 million shares traded. The 3-month trading volume is 5.12 million shares.

The consensus among analysts is that GameStop Corp. (GME) is an Underweight stock at the moment, with a recommendation rating of 4.00. 2 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 3 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.28.

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GameStop Corp. (NYSE:GME) trade information

Sporting 10.45% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the GME stock price touched $21.66 or saw a rise of 3.69%. Year-to-date, GameStop Corp. shares have moved 17.33%, while the 5-day performance has seen it change 5.71%. Over the past 30 days, the shares of GameStop Corp. (NYSE:GME) have changed 6.91%. Short interest in the company has seen 53.88 million shares shorted with days to cover at 15.42.

Wall Street analysts have a consensus price target for the stock at $10.10, which means that the shares’ value could drop -114.46% from current levels. The projected low price target is $5.00 while the price target rests at a high of $20.00. In that case, then, we find that the current price level is 7.66% off the targeted high while a plunge would see the stock lose 76.92% from current levels.

GameStop Corp. (GME) estimates and forecasts

Figures show that GameStop Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -39.46% over the past 6 months, with this year growth rate of -17.54%, compared to 6.10% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 20.00% and 50.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 4.30%.

3 analysts offering their estimates for the company have set an average revenue estimate of $1.35 billion for the current quarter. 3 have an estimated revenue figure of $2.4 billion for the next quarter concluding in Jan 2023.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -30.50% over the past 5 years.

GME Dividends

GameStop Corp. is expected to release its next earnings report between March 15 and March 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

GameStop Corp. (NYSE:GME)’s Major holders

Insiders own 15.62% of the company shares, while shares held by institutions stand at 27.25% with a share float percentage of 32.30%. Investors are also buoyed by the number of investors in a company, with GameStop Corp. having a total of 356 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 23.88 million shares worth more than $730.1 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 7.84% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 20.64 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $631.11 million and represent 6.78% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. As of Jun 29, 2022, the former fund manager holds about 2.51% shares in the company for having 7.65 million shares of worth $233.9 million while later fund manager owns 7.35 million shares of worth $184.75 million as of Sep 29, 2022, which makes it owner of about 2.41% of company’s outstanding stock.

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