Do Analysts Think Gamestop Corporation (GME) Is Still Worth Buying In 2024?

Gamestop Corporation (NYSE:GME) does about 35.40M shares in volume on a normal day but saw 130112973 shares change hands in Monday trading. The company now has a market cap of 7.60B USD. Its current market price is $24.83, marking a decrease of -12.01% compared to the previous close of $28.22. The 52 week high reached by this stock is $64.83 whilst the lowest price level in 52 weeks is $9.95.

Gamestop Corporation (GME) has a 20-day trading average at $27.44 and the current price is -61.70% off the 52-week high compared with 149.55% distance from its 52-week low. The 50-day simple moving average of the closing price is $18.26 and its 200-day simple moving average is $15.91. If we look at the stock’s price movements over the week, volatility stands at 39.19%, which decreases to 29.15% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 50.42 to suggest the stock is neutral.

The consensus objective for the share price is $15.94, suggesting that the stock has a potential downside of -55.77% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 08, 2023 when Wedbush reiterated the stock to “Underperform” and issued a price target of between $6.50 and $6.20. Ascendiant Capital Markets downgraded the stock to “Sell” from Hold on April 12, 2021 at a price target of $12-$10. Telsey Advisory Group reiterated its price target at $33-$30.

Gamestop Corporation (GME) stock is down -11.32% over the week and 37.87% over the past month. Its price is 41.64% year-to-date and 15.81% over the past year.

To reach the target analysts have set, the stock logically needs to shrink -55.77 percent from here.

The company has a return on investment of 1.46% and return on equity of 1.93%. The price to earnings ratio (P/E ratio) amounts to 304.66. The beta has a value of -0.03. Price to book ratio is 5.67 and price to sales ratio is 1.55.