NEW YORK (TheStreet) -- Shares of GameStop (GME) - Get Free Report are down by 2.15% to $36.80 in pre-market trading on Tuesday morning, as the stock continues to take a hit from the company's poor earnings results. Additionally, the stock was downgraded to "perform" from "outperform" at Oppenheimer this morning.
Before the market opened on Monday morning, the video game, consumer electronics and wireless services retailer reported its 2015 third quarter financial results, which fell short of what analysts' were expecting for the period.
Earnings for the most recent quarter came in at 54 cents per share on revenue of $2.02 billion. Analysts had forecast for earnings of 59 cents per share on revenue of $2.15 billion.
Oppenheimer's downgrade comes on the heels of the company's earnings results. The firm believes GameStop isn't growing fast enough within the industry.
Separately, TheStreet Ratings team rates GAMESTOP CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate GAMESTOP CORP (GME) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, reasonable valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: GME
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.