Dave & Buster's Entertainment (NASDAQ:PLAY) Shares Gap Up After Analyst Upgrade

Dave & Buster's Entertainment Inc (NASDAQ:PLAY - Get Free Report) shares gapped up prior to trading on Wednesday after Piper Sandler raised their price target on the stock from $22.00 to $30.00. The stock had previously closed at $25.87, but opened at $28.85. Piper Sandler currently has a neutral rating on the stock. Dave & Buster's Entertainment shares last traded at $30.19, with a volume of 1,257,503 shares changing hands.

A number of other research firms also recently issued reports on PLAY. Loop Capital lifted their target price on Dave & Buster's Entertainment from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday. BMO Capital Markets lifted their target price on Dave & Buster's Entertainment from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday. Truist Financial lifted their target price on Dave & Buster's Entertainment from $22.00 to $29.00 and gave the company a "hold" rating in a research report on Wednesday. Finally, UBS Group lifted their target price on Dave & Buster's Entertainment from $18.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Dave & Buster's Entertainment has an average rating of "Hold" and an average target price of $33.83.

Hedge Funds Weigh In On Dave & Buster's Entertainment

A number of institutional investors have recently bought and sold shares of the business. Parallax Volatility Advisers L.P. increased its position in Dave & Buster's Entertainment by 9.3% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 7,441 shares of the restaurant operator's stock worth $217,000 after buying an additional 632 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Dave & Buster's Entertainment by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,407 shares of the restaurant operator's stock worth $537,000 after buying an additional 728 shares during the last quarter. US Bancorp DE increased its position in Dave & Buster's Entertainment by 442.0% during the first quarter. US Bancorp DE now owns 1,561 shares of the restaurant operator's stock worth $27,000 after buying an additional 1,273 shares during the last quarter. MetLife Investment Management LLC increased its position in Dave & Buster's Entertainment by 7.7% during the fourth quarter. MetLife Investment Management LLC now owns 20,618 shares of the restaurant operator's stock worth $602,000 after buying an additional 1,479 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Dave & Buster's Entertainment during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 91.45% of the company's stock.

Dave & Buster's Entertainment Trading Down 1.7%

The business has a 50-day simple moving average of $21.12 and a two-hundred day simple moving average of $23.95. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 14.94 and a beta of 2.00. The company has a debt-to-equity ratio of 6.38, a current ratio of 0.29 and a quick ratio of 0.19.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The restaurant operator reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.20). The business had revenue of $567.70 million for the quarter, compared to analyst estimates of $572.12 million. Dave & Buster's Entertainment had a return on equity of 44.22% and a net margin of 3.88%. Dave & Buster's Entertainment's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. Equities analysts forecast that Dave & Buster's Entertainment Inc will post 2.52 EPS for the current fiscal year.

About Dave & Buster's Entertainment

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.