What's Going On With Dave & Buster's Stock After Earnings?

Dave & Buster’s Entertainment, Inc. PLAY shares are trading lower Thursday after the company reported worse-than-expected first-quarter financial results.

The Details:

Dave & Buster's reported quarterly sales of $588.1 million, which missed the analyst consensus estimate of $621.26 million. Comparable store sales decreased 5.6% compared with the same calendar period in 2023.

The company reported quarterly earnings of $1.12 per share which missed the analyst consensus estimate of $1.70.

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BMO Capital analyst Andrew Strelzik maintained Dave & Buster’s with an Outperform rating, but lowered the price target from $75 to $65 following the print. 

Dave & Buster's Entertainment has grabbed the interest of short-sellers with 32.55% of available shares being sold short, according to the latest data from Benzinga Pro.

Will PLAY Stock Go Up?

When trying to assess whether or not Dave & Buster’s will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $70.33 on Dave & Buster’s Entertainment. The Street high target is currently at $78 and the Street low target is $65. Of all the analysts covering Dave & Buster’s Enter, 4 have positive ratings, 2 have neutral ratings and no one has a negative rating.

In the last month, 2 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Dave & Buster’s Enter have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Dave & Buster’s Enter is 5.79% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Dave & Buster’s Entertainment, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

PLAY Price Action: According to Benzinga Pro, Dave & Buster’s Entertainment shares are down 9.68% at $45.48 at the time of publication Thursday.

Image: Courtesy of Dave & Buster’s Entertainment, Inc.