Telsey Advisory Thinks GameStop’s Stock is Going to Recover

By Jason Carr

Telsey Advisory analyst Joe Feldman reiterated a Buy rating on GameStop (NYSE: GME) today and set a price target of $30. The company’s shares closed yesterday at $20.93, close to its 52-week low of $20.10.

According to TipRanks.com, Feldman is a 1-star analyst with an average return of -1.9% and a 33.3% success rate. Feldman covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Michaels Companies, and Bed Bath & Beyond.

Currently, the analyst consensus on GameStop is Moderate Buy and the average price target is $30.53, representing a 45.9% upside.

In a report issued on October 20, Robert W. Baird also maintained a Buy rating on the stock with a $40 price target.

The company has a one year high of $47.48 and a one year low of $20.10. Currently, GameStop has an average volume of 2.65M.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GME in relation to earlier this year. Most recently, in September 2016, Michael Mauler, the EVP – President International of GME bought 10,000 shares for a total of $269,000.

GameStop Crop. operates as a multichannel video game, consumer electronics and wireless services retailer, which offers customers the most popular games, hardware and game accessories for next generation video game systems and the PC. The company sells new and pre-owned video game hardware, physical and digital video game software, accessories, as well as PC entertainment software, new and pre-owned mobile and consumer electronics products and other merchandise. It operates electronic commerce web sites under the names www.gamestop.com, www.ebgames.com.au, www.ebgames.co.nz, www.gamestop.ca, www.gamestop.it, www.gamestop.es, www.gamestop.ie, www.gamestop.de, www.gamestop.co.uk and www.micromania.fr. The company also sells various types of digital products, including downloadable content, network points cards, prepaid digital and online timecards and digitally downloadable software. Its mobile business consists primarily of pre-owned mobile devices, tablets and related accessories. The company was founded in June 2000 and is headquartered in Grapevine, TX.