Dan Ives reiterates USD 32.00 target for GameStop stock

Published on 10/20/2026 at 22:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue fell 18.70 percent to USD 790.20 million. GameStop stock was USD 26.48 on October 20, 2026, up 0.13 percent on the NYSE.

Analyst target and earnings

Dan Ives reiterated a USD 32.00 target for GameStop on October 16, 2026.
Second-quarter revenue fell 18.70 percent to USD 790.20 million.
GameStop stock was USD 26.48 on October 20, 2026, up 0.13 percent on the NYSE.
Market capitalization was USD 13.4 billion and the P/E ratio was 17.19 on October 20, 2026.

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Dan Ives reiterated a USD 32.00 price target and an Outperform rating for GameStop on October 16, 2026, according to Investing.com. The target stood 20.85 percent above the USD 26.48 price. GameStop stock was trading at USD 26.48 on October 20, 2026 at 3:59 p.m. ET, up 0.13 percent from the prior close.

Collectibles offset a weaker quarter

GameStop reported fiscal second-quarter revenue of USD 790.20 million for the period ended August 1, 2026. Revenue fell 18.70 percent from USD 972.20 million a year earlier, while operating income rose to USD 160.20 million from USD 66.40 million, according to Yahoo Finance.

The sales mix provided the stronger operating signal. Collectibles revenue climbed 57.00 percent to USD 356.30 million in the fiscal second quarter, while net income reached USD 298.70 million. The figures suggest that the company is becoming more dependent on higher-margin categories as traditional game sales contract.

Stock stays below its yearly high

GameStop traded between USD 25.30 and USD 26.48 on October 20, 2026, with volume of 8,276,761 shares. Its 52-week range was USD 17.79 to USD 28.30, placing the latest price 6.43 percent below the high and 48.85 percent above the low.

The market capitalization was USD 13.4 billion and the P/E ratio was 17.19 on October 20, 2026. Best Buy traded at USD 93.89, up 3.02 percent, with a P/E ratio of 15.62 and market capitalization of USD 19.7 billion. Chewy traded at USD 21.53, up 4.87 percent, with a P/E ratio of 32.62 and market capitalization of USD 8.7 billion.

What does the target imply?

The USD 32.00 target places the analyst view 20.85 percent above the latest USD 26.48 price. That comparison leaves the collectibles expansion and the revenue decline as the central tension in the current valuation.

Price and valuation remain central

For investors, the key contrast is clear: fiscal second-quarter operating income more than doubled to USD 160.20 million, but revenue fell 18.70 percent year over year. The latest price was also 6.43 percent below the 52-week high of USD 28.30.