GameStop (GME) closed the most recent trading day at $20.83, moving -0.38% from the previous trading session. This move lagged the S&P 500's daily gain of 0.61%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.33%.

The video game retailer's stock has climbed by 2.5% in the past month, falling short of the Consumer Discretionary sector's gain of 2.91% and the S&P 500's gain of 5.36%.

The investment community will be paying close attention to the earnings performance of GameStop in its upcoming release. Meanwhile, the latest consensus estimate predicts the revenue to be $900 million, indicating a 16.54% decrease compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $0.01 per share and a revenue of $4.03 billion, demonstrating changes of -83.33% and -23.57%, respectively, from the preceding year.

Investors should also pay attention to any latest changes in analyst estimates for GameStop. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 87.5% downward. Currently, GameStop is carrying a Zacks Rank of #3 (Hold).

Looking at valuation, GameStop is presently trading at a Forward P/E ratio of 2091. This indicates a premium in contrast to its industry's Forward P/E of 20.95.

The Gaming industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 105, positioning it in the top 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.