Gamestop – In case you do not know what Gamestop is here are some facts. Gamestop is an American based company with it´s headoffice in Texas, Grapevine. Gamestop is a consumer electronics, gaming and video game retailer with more than 4500 stores over the whole world. Gamestop became famous in 2021 after the stock was hyped by the subreddit “Wallstreetbets”. Millions of private small traders bundled their power and bought the shares in order to fight against the big players of the Wallstreet who have heavily shorted Gamestop during the pancemic.
Fundamentals
In fact Gamestop had quite some trouble with their fundamentals. As per macrotrends.net Gamestop had it´s last positive Ebit of $439 Million in the year of 2018. From than on figures became negative. in 2021 the Ebit was only $-368 Millions. But Gamestop is fighting back. The last quarterly report in 2022 showed a lost (Net Income) of $-108 Million. Compared to the same quarter in 2019 ($-415 Million) Gamestop improved their Net Income by almost 400%.
Morningstar says: “Gamestop is trading at a 42% Discount” (thestreet, Bernard Zambonin, www.thrstreet.com)
as per the latest September report Morningsstar is rating the Gamestop share 42% discounted. The current share price of Gamestop is currently at $28. That makes targetprice of $39. As per Morningstar the stock is undervalued and got a four star rating. Looking into the stat´s:
The share price of Gamestop is currently stuck at the upper border at 29$ and on the lower border of 27$. For me as an Investmentanalyst the fundamentals are developing into the right direction and i believe in the current management of Gamestop know what they do. From the stat´s it can go in both direction´s on a short term. Long term i am of the opinion that Morningstar did a great job.
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