Wedbush Reiterates Outperform on GameStop Corp. Following 4Q14 Results
Wedbush analyst Michael Pachter came out with some commentary on GameStop Corp. (NYSE:GME), after the company released its earnings on Thursday. The analyst reiterated an Outperform rating and a $50 price target, which represents a potential upside of 29% from where the stock is currently trading.
Pachter observed, “Sales totaled $3.48 billion versus our estimate of $3.74 billion and consensus of $3.60 billion. Sales of new HW, pre-owned and value products, digital items, and mobile and CE (driven by Technology Brands) were below our expectations. Same-store sales were down 1.8%, versus our estimate of down 1.0% and guidance of down 2.5 – 1.0%. Non-GAAP EPS was $2.15, versus our estimate of $2.25, consensus of $2.17, and guidance of $2.08 – 2.24. The EPS shortfall was driven primarily by sales. F/X rate changes negatively impacted Q4 EPS by $0.05.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Michael Pachter has a total average return of 1.3% and a 47.0% success rate. Pachter has a -8.5% average return when recommending GME, and is ranked #1696 out of 3550 analysts.