Shares of GameStop (NYSE:GME) gained in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at -$0.03, which beat the expectation of -$0.14 per share.
Sales increased by 1.8% year-over-year, with revenue hitting $1.16 billion. This beat analysts’ expectations by $20 million.
Is it a Good Idea to Buy GME?
GameStop has only one analyst covering it, Wedbush’s Michael Pachter, who has a Sell rating on GME stock. Indeed, his price target of $6.20 implies almost 67% downside potential.