Piper Sandler Cuts Dave & Buster's Entertainment (NASDAQ:PLAY) Price Target to $22.00

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) had its target price reduced by investment analysts at Piper Sandler from $33.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the restaurant operator's stock. Piper Sandler's target price would suggest a potential upside of 28.65% from the company's previous close.

PLAY has been the subject of several other reports. Truist Financial dropped their target price on Dave & Buster's Entertainment from $27.00 to $21.00 and set a "hold" rating for the company in a research note on Wednesday, April 2nd. William Blair restated a "market perform" rating on shares of Dave & Buster's Entertainment in a report on Wednesday, December 11th. Loop Capital dropped their price target on Dave & Buster's Entertainment from $59.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of Dave & Buster's Entertainment from $51.00 to $47.00 and set an "outperform" rating on the stock in a research report on Wednesday, December 11th. Finally, Gordon Haskett reissued a "hold" rating and issued a $34.00 price objective (down previously from $40.00) on shares of Dave & Buster's Entertainment in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $33.00.

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Dave & Buster's Entertainment Trading Down 2.9 %

Shares of Dave & Buster's Entertainment stock traded down $0.51 during mid-day trading on Tuesday, hitting $17.10. 1,160,433 shares of the stock were exchanged, compared to its average volume of 1,481,392. The stock has a market capitalization of $590.21 million, a price-to-earnings ratio of 8.47 and a beta of 1.86. Dave & Buster's Entertainment has a twelve month low of $15.08 and a twelve month high of $59.78. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 6.38. The company has a 50-day simple moving average of $20.56 and a 200 day simple moving average of $28.55.

Dave & Buster's Entertainment (NASDAQ:PLAY - Get Free Report) last announced its earnings results on Monday, April 7th. The restaurant operator reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $534.50 million for the quarter, compared to analyst estimates of $548.77 million. Dave & Buster's Entertainment had a net margin of 3.88% and a return on equity of 44.22%. Dave & Buster's Entertainment's revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. Research analysts forecast that Dave & Buster's Entertainment will post 2.52 EPS for the current year.

Hedge Funds Weigh In On Dave & Buster's Entertainment

A number of hedge funds have recently added to or reduced their stakes in the business. Clearline Capital LP lifted its position in shares of Dave & Buster's Entertainment by 1,768.8% in the 4th quarter. Clearline Capital LP now owns 1,146,224 shares of the restaurant operator's stock worth $33,458,000 after buying an additional 1,084,890 shares during the last quarter. Patient Capital Management LLC raised its stake in Dave & Buster's Entertainment by 36.6% during the fourth quarter. Patient Capital Management LLC now owns 1,777,260 shares of the restaurant operator's stock worth $51,878,000 after acquiring an additional 476,662 shares during the period. SG Americas Securities LLC lifted its holdings in Dave & Buster's Entertainment by 1,100.8% in the fourth quarter. SG Americas Securities LLC now owns 424,967 shares of the restaurant operator's stock worth $12,405,000 after acquiring an additional 389,577 shares during the last quarter. Boston Partners boosted its stake in Dave & Buster's Entertainment by 132.5% in the fourth quarter. Boston Partners now owns 567,734 shares of the restaurant operator's stock valued at $16,563,000 after acquiring an additional 323,595 shares during the period. Finally, Woodline Partners LP bought a new position in shares of Dave & Buster's Entertainment during the fourth quarter valued at approximately $6,702,000. Institutional investors and hedge funds own 91.45% of the company's stock.

Dave & Buster's Entertainment Company Profile

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.