In a report released today, Michael Pachter from Wedbush reiterated a Buy rating on GameStop (GME), with a price target of $9. The company’s shares opened today at $4.98, close to its 52-week low of $4.71.
According to TipRanks.com, Pachter is a 2-star analyst with an average return of 0.4% and a 51.1% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
GameStop has an analyst consensus of Hold, with a price target consensus of $6.25.
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Based on GameStop’s latest earnings release for the quarter ending April 30, the company reported a quarterly net profit of $6.8 million. In comparison, last year the company earned revenue of $1.93 billion and had a net profit of $28.2 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.
