GameStop (NYSE: GME) is trading at post-meme stock levels. Can it hold the line and mount another offense or is it doomed to fall?

One Wall Street analyst believes that GameStop stock is likely to suffer more losses within the next 12 months.

One analyst’s target price sees a 66% loss

GameStop has a ‘moderate sell’ rating based on one analyst from Wedbush, who has a price target of $6. This is 66% lower than the current market price of $18.42.

The lack of analysts covering this stock means it has fallen out of favor and is less popular among traders for the time being.

TipRanks analyst price target for WMT. Source: Interactive Brokers Fundamentals Explorer

GameStop is releasing its quarterly results on September 6, which may show narrowing losses per share. If that happens, that would be positive for the stock and could bring back investors’ eyes.

Analysts expect revenue of $1.14 billion and an earnings per share loss of 17 cents. This would make GameStop unprofitable for the quarter. Return to profitability could happen in Q4 based on analyst expectations. Historically, Q4 has been most profitable for the company due to seasonality and the holiday season.

GameStop stock technical analysis

GME stock has been trading in a range of between $16.3 and $25 since December 2022. The stock’s support level of $16.3 has held three times, making it a good buying spot if you’re bullish on the stock.

GME stock, daily price chart. Source:

A break below $16 opens the way to further losses toward $10. But a break above the $25 level is likely to take the stock to $30, which in turn could cause a minor short squeeze to $40. But unless something dramatic happens, the stock is likely to remain within the range.

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Despite going up and down throughout the year, GME has still returned 7% year-to-date. That’s outperformed by the S&P 500’s 18% return within the same period.

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Wall Street sets GameStop stock price for the next 12 months appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.