Wedbush Securities Sees In-Line Q4 Results For GameStop

In a report published Friday, Wedbush Securities analyst Michael Pachter reiterated an Outperform rating and $50.00 price target on

. In the report, Wedbush Securities noted, "Q4 results were in line with the revised guidance ranges provided in January. Sales totaled $3.48 billion versus our estimate of $3.74 billion and consensus of $3.60 billion. Sales of new HW, pre-owned and value products, digital items, and mobile and CE (driven by Technology Brands) were below our expectations. Same-store sales were down 1.8%, versus our estimate of down 1.0% and guidance of down 2.5 – 1.0%. Non-GAAP EPS was $2.15, versus our estimate of $2.25, consensus of $2.17, and guidance of $2.08 – 2.24. The EPS shortfall was driven primarily by sales. F/X rate changes negatively impacted Q4 EPS by $0.05." GameStop closed on Thursday at $38.79.