Dave and Buster's Entertainment Inc. (NASDAQ:PLAY) reported downbeat earnings for the first quarter after the closing bell on Monday.

The company posted quarterly earnings of 22 cents per share, which missed the analyst consensus estimate of 61 cents per share. The company reported quarterly sales of $559.200 million, which missed the analyst consensus estimate of $580.461 million.

“While first quarter results fell short of expectations, our back-to-basics strategy is gaining clear traction,” said Tarun Lal, Chief Executive Officer. “We are driving meaningful progress across food and beverage, marketing, and our refreshed remodel program, which are delivering a sharper value proposition and driving a stronger guest experience. We have the right strategy, the right team, and the right momentum, and we are highly confident in our ability to drive positive comps for the remainder of the year while generating over $100 million in free cash flow in fiscal 2026.”

Dave and Buster's shares fell 8.8% to trade at $11.23 on Tuesday.

These analysts made changes to their price targets on Dave and Buster's following earnings announcement.

  • UBS analyst Dennis Geiger maintained the stock with a Neutral and lowered the price target from $13 to $12.
  • BMO Capital analyst Andrew Strelzik maintained the stock with an Outperform rating and lowered the price target from $24 to $22.
  • Benchmark analyst Mike Hickey downgraded Dave & Buster’s from Buy to Hold.

Considering buying PLAY stock? Here’s what analysts think:

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