Market News

Solid Win in Earnings is a Solid Win for PLAY

Shares of Dave & Busters (NASDAQ:PLAY) gained nearly 3% in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $0.80, which beat analysts’ consensus estimate of $0.70 per share.

Sales increased by 64.3% year-over-year, with revenue hitting $563.7 million. This beat analysts’ expectations of $531.84 million.

Comparable store sales delivered solid results as well. The Main Event-branded outlets were up 19% this quarter. Further, locations came out 14.1% ahead of levels seen in pre-COVID days going back to 2019. Best of all, Dave & Busters announced a share buyback plan backed up by $100 million.

Overall, Wall Street has a consensus price target of $55 on Dave & Busters, implying 51.89% upside potential, as indicated by the graphic above.

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