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Wall Street sets GameStop stock price for next 12 months

Wall Street sets GameStop stock price for next 12 months
Ana Zirojevic

Despite finally making a breakout of the bearish decline chart pattern that has marked the larger part of this year for the shares of GameStop (NYSE: GME), accompanied by a massive turnover among its executives, experts remain on the fence regarding its price in the next 12 months.

Indeed, the struggling gaming retailer recently reclaimed the spotlight on the stock market scene with the resurgence of the ‘meme stock craze’ as retail traders demonstrated renewed interest, and its CEO Ryan Cohen took charge of the company’s investments.

Wall Street weighs in on GameStop stock

However, Wall Street analysts remain largely unconvinced and uninterested, with only one expert at TipRanks offering a 12-month price target in the last three months and a bearish one at that, expecting it to drop to $6.00 or 61.41% from its current price of $15.55 and marking it as a ‘moderate sell.’

GameStop stock 12-month price forecast. Source: TipRanks

At the same time, experts over at stock and cryptocurrency monitoring platform TradingView are slightly more numerous but also bearish, with one analyst setting the price target for the GameStop stock at $15.00 and suggesting a ‘hold’ and another at $6.00, suggesting a ‘strong sell’ as per the data on December 11.

GameStop stock 1-year price forecast. Source: TradingView

GameStop stock price analysis

Meanwhile, the price of the GameStop stock at the previous trading day stood at $15.51, demonstrating a decline of 5% on the day but also gaining 1.63% across the previous week and advancing as much as 22.44% in the last month, according to the latest charts.

GameStop stock 30-day price chart. Source: ChartMill

It is also worth mentioning that the GameStop stock is trading in the lower part of its 52-week range and is performing worse than 83% of all other stocks and worse than 66% of the 132 other stocks in the specialty retail industry, which plays into the bearish forecast by the analysts.

On the other hand, its short-term trend is positive due to an increased interest coming from traders and investors, the average volume of over 6 million trades per day (indicating liquidity), and the fact that it is currently changing hands near the high of its range between $11.82 and $17.56 from the last month.

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