Wallet Investor held a slightly bullish short-term outlook for GME stock, based on an assessment of multiple technical indicators. The forecaster set a baseline GameStop stock forecast for 2022 of $27.38 by the end of December 2022, up from $25.99 at the time of writing. Targets for 2022, 2023 and 2025Īlgorithm-based forecasting services gave mixed predictions for GameStop’s future price as of 7 October. “Without guidance or detail, it is difficult to discern whether any of these three things will happen,” Wedbush added, referring to how the company will either increase revenue and gross margins or reduce operating costs.Īnalysts from Wedbush recently lowered their price target for GME stock to $7.50 per share, down from a previous 12-month GameStop share price forecast of $30. Wedbush Securities stated that the earnings report had “underwhelmed” amid an unexpected swing to negative profitability and sparse details about how the firm plans to trim losses to avoid reducing its much-needed cash balance. The highest estimate from analysts was $36.50, the lowest $7.50. The average GameStop stock price target was $22 a share, indicating a 15.35% potential loss. GameStop stock forecast: Wall Street ratingsĪccording to data compiled by MarketBeat, the consensus recommendation for GME stock as of 7 October was bearish, with both analysts polled rating the stock a ‘sell’. Bottom line – despite the positive news, lawsuits and losses make investing in GME stock extremely risky,” Karkalev concluded. At the end of 2021, the net loss was $381m, already 77% more than in 2020. “Despite strong revenue growth at the end of 2021, which reached $6bn, a 20% increase over 2020, the company’s losses are still growing. What does the lack of revenue growth mean for any GME stock forecast? Let’s consider the latest GameStop stock projections from analysts. Sales of software and collectible items contributed close to 50% of total quarterly revenue. GameStop said its Q2 inventory rose to $734.8m, from $596.4m a year earlier, “reflecting the Company’s focus on maintaining adequate in-stock levels to meet customer demand and offset lingering supply chain headwinds”. The company also reported a $108.7m net loss – significantly worse than the $61.6m net loss year-over-year ( YOY). Revenues ended at $1.136bn – falling from the $1.183bn reported in Q2 2021. On 7 September 2022, GameStop reported its financial results for the second quarter of fiscal year 2022. GameStop fundamental analysis: Latest earnings Meanwhile, the Moving Average Convergence Divergence ( MACD) indicated ‘buy’ at -1.32. From a technical perspective, the stock continues to be on a downtrend, which could favour a bearish short-term GME stock forecast.Īs of 7 October 2022, momentum indicators were pointing to a mixed outlook, with the Relative Strength Index ( RSI) neutral at 43.61. None of the short-lived spikes which the GME stock value has experienced since its turbulent 2021 have led to a higher high. The GME stock price’s 26.59% decline so far in 2022 is higher than the 21.93% loss experienced by the S&P 500 Index ( US500) over the same period, but less than the sharp 30% decline of the tech-heavy Nasdaq 100 Index ( US100). Concerns about the company’s ability to remain afloat in today’s challenging macroeconomic backdrop have weighed on its valuation. Past performance is not a reliable indicator of future results.ĭespite its latest ups and downs, GME’s overall performance this year continues to be negative at the time of writing (7 October 2022). GME stock analysis: Technical views and price drivers In response to actions, investors began prompting the SEC to open an investigation on Cohen’s dealings, according to a report from the New York Post. The GameStop chairman’s actions led to a sharp decline in both the price of BBBY stock and the GME stock price. However, days after Cohen’s SEC disclosure, he sold his stake in BBBY, reportedly banking a $68.1m profit. The news could have attracted retail traders to the stock market, with the expectation that short sellers could again be squeezed out of their meme-stock bets, including GameStop. Strike prices ranged from $60 to $80 a share. News of his investment was followed by BBBY surging more than 20% for three days in a row.Īccording to a US Securities and Exchange Commission ( SEC) filing, Cohen bought 7.78 million shares in BBBY, and thousands of call options expiring on 1 January 2023. In mid-August 2022, billionaire investor Ryan Cohen opened a large position in cash-strapped retailer Bed Bath & Beyond ( BBBY). GameStop stock news: Ryan Cohen flips BBBY stock In this article, we will be assessing the latest news, along with its price action and fundamentals, to outline plausible GameStop stock predictions for 2022 and beyond.
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