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- 1 GME stock price is showing a bullish outlook ahead of its first quarter results of the year.
- 2 The Q1 2023 report by GameStop Corporation is scheduled on June 1st, Thursday.
GameStop (NYSE: GME) stock rose more than 5% in yesterday’s trading session as the company will report its earnings and revenue tomorrow. The company will report its EPS and revenue of the first quarter of this year, while its previous quarter report was positive. On the immediate next day of the Q4 2022 report, the company noted a good trading-volume; and, this trading volume took its stock price to surge above its 200-day EMA. The stock price went up and traded nearly at $27.00, but then, the bears dropped down its trading price.
GME Stock Price Analysis
GME stock closed at $24.57 and added $1.32 in yesterday’s trading session. The stock rose more than 5% in the recent session, while opening at $23.35, gave high at $24.69, and low was at $23.30. The one month price gain of this stock is almost 30%, while year-to-date (YTD) price growth is also similar.
As shown in the above price chart, the pre-market price of GameStop stock is at $24.24, which is quite below from its recent closing price. The pre-market price is clearly showing a bit decline but as the quarterly report is near, the stock may experience quite good volatility.
As per the recent price analysis, the stock price is trading above its 200-day EMA, which noted its one-day jump from its 20-day moving averages. The RSI also experienced bullish sentiments as it is surging towards the overbought zone. This further shows the investors’ confidence in the stock as the previous quarterly report was positive.
The price target that analysts have set is at $13.25, which is almost 46% down from its recent closing price. The maximum price estimate that analysts have set is at $20.00, while the minimum estimate is at $6.50. However, the price target by analysts is not favoring the recent price performance of GME stock.
The Fundamentals of GameStop Corporation
As per its financial statements, the company’s total revenue for Q4 2022 is $2.23 Billion. It is 87.66% higher compared to the previous quarter. The net income of Q4 22 is 48.20 Million, while the market cap is $7.48 Billion. The EPS for the same period is $0.16 whereas the estimation was $ -0.13 which accounts for 220.00% surprise.
The revenue for Q4 2022 amounts to $2.23 Billion despite the estimated figure of $2.18 Billion. Meanwhile, the estimated earnings for the next quarter are $ -0.15, and revenue is expected to reach $1.34 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
