Piper Sandler Cuts Dave & Buster’s Entertainment (NASDAQ:PLAY) Price Target to $14.00

Dave & Buster’s Entertainment (NASDAQ:PLAY) had its price objective reduced by Piper Sandler from $22.00 to $14.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

PLAY has been the topic of a number of other research reports. BMO Capital Markets lowered their price target on Dave & Buster’s Entertainment from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. Zacks Research raised Dave & Buster’s Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Dave & Buster’s Entertainment in a report on Wednesday, January 21st. UBS Group lowered their price target on Dave & Buster’s Entertainment from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, January 6th. Finally, Truist Financial lowered their price target on Dave & Buster’s Entertainment from $23.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, January 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.83.

Dave & Buster’s Entertainment Stock Up 7.3%

PLAY opened at $13.05 on Monday. The business’s 50-day simple moving average is $14.59 and its 200-day simple moving average is $16.35. The company has a debt-to-equity ratio of 16.61, a quick ratio of 0.22 and a current ratio of 0.29. Dave & Buster’s Entertainment has a one year low of $9.61 and a one year high of $35.53. The stock has a market capitalization of $453.36 million, a P/E ratio of -9.13 and a beta of 1.83.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its quarterly earnings results on Tuesday, March 31st. The restaurant operator reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.74). Dave & Buster’s Entertainment had a negative return on equity of 7.93% and a negative net margin of 2.32%.The company had revenue of $529.60 million for the quarter, compared to analysts’ expectations of $556.56 million. During the same period in the prior year, the business earned $0.69 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Analysts anticipate that Dave & Buster’s Entertainment will post 2.52 EPS for the current year.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of institutional investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. boosted its holdings in Dave & Buster’s Entertainment by 532.9% in the 3rd quarter. Nomura Holdings Inc. now owns 2,411,191 shares of the restaurant operator’s stock valued at $43,787,000 after purchasing an additional 2,030,186 shares in the last quarter. Clearline Capital LP boosted its holdings in Dave & Buster’s Entertainment by 20.4% in the 3rd quarter. Clearline Capital LP now owns 1,619,964 shares of the restaurant operator’s stock valued at $29,419,000 after purchasing an additional 274,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Dave & Buster’s Entertainment by 40.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,515,000 shares of the restaurant operator’s stock valued at $24,558,000 after purchasing an additional 434,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Dave & Buster’s Entertainment by 22.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,511,591 shares of the restaurant operator’s stock valued at $24,503,000 after purchasing an additional 276,064 shares in the last quarter. Finally, State Street Corp boosted its holdings in Dave & Buster’s Entertainment by 2.6% in the 4th quarter. State Street Corp now owns 1,106,488 shares of the restaurant operator’s stock valued at $17,936,000 after purchasing an additional 28,349 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Dave & Buster’s Entertainment Company Profile

Dave & Buster’s Entertainment, Inc operates a chain of combined restaurant and entertainment venues designed to appeal to families, young adults and corporate groups. Each location features a full-service restaurant and bar alongside an arcade gaming area with ticket-based redemption, virtual reality experiences and skill-based games. Many venues also include multiple large-screen televisions and a sports bar atmosphere, catering to fans who wish to watch live sporting events in a social setting.

The company was founded in 1982 by David Corriveau and James “Buster” Corley, opening its first location in Dallas, Texas.