Wedbush Lowers GameStop (NYSE:GME) Price Target to $5.60

GameStop (NYSE:GME) had its price objective lowered by stock analysts at Wedbush from $6.00 to $5.60 in a research report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an “underperform” rating on the stock. Wedbush’s price target would indicate a potential downside of 55.27% from the company’s current price. Wedbush also issued estimates for GameStop’s Q1 2026 earnings at ($0.08) EPS, Q2 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.01 EPS, Q4 2026 earnings at $0.21 EPS and FY2026 earnings at $0.10 EPS.

Separately, StockNews.com upgraded shares of GameStop from a “sell” rating to a “hold” rating in a research report on Wednesday.

GameStop Stock Performance

Shares of GameStop stock opened at $12.52 on Wednesday. The firm has a market capitalization of $3.82 billion, a P/E ratio of 626.31 and a beta of -0.42. GameStop has a 52 week low of $11.82 and a 52 week high of $27.65. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $14.26 and its two-hundred day moving average is $14.89.

GameStop (NYSE:GME) last announced its earnings results on Tuesday, March 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. GameStop had a return on equity of 1.37% and a net margin of 0.13%. The business’s revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. Research analysts forecast that GameStop will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On GameStop

A number of hedge funds and other institutional investors have recently bought and sold shares of GME. Vanguard Group Inc. grew its position in GameStop by 304.8% in the 3rd quarter. Vanguard Group Inc. now owns 24,163,722 shares of the company’s stock valued at $607,235,000 after buying an additional 18,193,982 shares during the last quarter. State Street Corp lifted its holdings in GameStop by 307.5% in the third quarter. State Street Corp now owns 6,928,945 shares of the company’s stock valued at $174,124,000 after acquiring an additional 5,228,654 shares during the period. Norges Bank acquired a new stake in GameStop in the fourth quarter valued at $19,508,000. Point72 Asset Management L.P. acquired a new stake in GameStop in the fourth quarter valued at $11,181,000. Finally, Renaissance Technologies LLC lifted its holdings in GameStop by 11,704.3% in the first quarter. Renaissance Technologies LLC now owns 306,912 shares of the company’s stock valued at $51,125,000 after acquiring an additional 304,312 shares during the period. 29.21% of the stock is currently owned by hedge funds and other institutional investors.

About GameStop

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.