Credit Suisse Keeps Their Sell Rating on GameStop (GME)
Credit Suisse analyst Seth Sigman maintained a Sell rating on GameStop (GME) yesterday and set a price target of $3.50. The company’s shares closed last Thursday at $6.62.
According to TipRanks.com, Sigman is a 4-star analyst with an average return of 4.3% and a 53.4% success rate. Sigman covers the Consumer Goods sector, focusing on stocks such as Floor & Decor Holdings, Dick’s Sporting Goods, and Sportsman’s Warehouse.
The word on The Street in general, suggests a Hold analyst consensus rating for GameStop with a $5.50 average price target.
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Based on GameStop’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $1.02 billion and GAAP net loss of $166 million. In comparison, last year the company earned revenue of $1.55 billion and had a net profit of $6.8 million.
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GameStop Corp. engages in the retail of multichannel video game, consumer electronics, and wireless services. It operates through the following segments: United States, Canada, Australia, Europe, and Technology Brands. The United States segment includes the retail operations and electronic commerce websites www.gamestop.com and www.thinkgeek.com, Game Informer magazine, and Kongregate. The Canada segment comprises of retail and e-commerce business. The Australia segment refers to the retail and e-commerce operations in Australia and New Zealand. The Europe segment pertains to the retail and e-commerce operations in the European countries. The Technology Brands segment consists of Spring Mobile managed AT&T and Cricket Wireless branded stores, and Simply Mac stores. The company was founded in June 2000 and is headquartered in Grapevine, TX.
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