GameStop (GME - Free Report) shares rallied 14% in the last trading session to close at $22.82. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.2% gain over the past four weeks.
GameStop is progressing well with its growth endeavors, while maintaining a sturdy balance sheet. The company has been making robust efforts to fortify the infrastructure and technology. As part of its digital transformation efforts, GameStop has been increasing product catalog across consumer electronics, PC gaming, collectibles, toys and other categories.
This video game retailer is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +66%. Revenues are expected to be $2.17 billion, down 3.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GameStop, the consensus EPS estimate for the quarter has been revised 30.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GME going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GameStop is a member of the Zacks Retail - Consumer Electronics industry. One other stock in the same industry, Best Buy (BBY - Free Report) , finished the last trading session 1.5% higher at $85.18. BBY has returned 3.3% over the past month.
Best Buy's consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $2.10. Compared to the company's year-ago EPS, this represents a change of -23.1%. Best Buy currently boasts a Zacks Rank of #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
GameStop (GME - Free Report) shares rallied 14% in the last trading session to close at $22.82. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.2% gain over the past four weeks.
GameStop is progressing well with its growth endeavors, while maintaining a sturdy balance sheet. The company has been making robust efforts to fortify the infrastructure and technology. As part of its digital transformation efforts, GameStop has been increasing product catalog across consumer electronics, PC gaming, collectibles, toys and other categories.
This video game retailer is expected to post quarterly loss of $0.16 per share in its upcoming report, which represents a year-over-year change of +66%. Revenues are expected to be $2.17 billion, down 3.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GameStop, the consensus EPS estimate for the quarter has been revised 30.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GME going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GameStop is a member of the Zacks Retail - Consumer Electronics industry. One other stock in the same industry, Best Buy (BBY - Free Report) , finished the last trading session 1.5% higher at $85.18. BBY has returned 3.3% over the past month.
Best Buy's consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $2.10. Compared to the company's year-ago EPS, this represents a change of -23.1%. Best Buy currently boasts a Zacks Rank of #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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