Dave & Buster's shares gain as investors bet on turnaround plan

Shares of Dave & Buster's jump 17% to $20.98 after Q3 results

J.P. Morgan says the co's management "appeared confident in making steady, albeit slow, progress ahead as it executes against the back-to-basics plan"

Piper Sandler says "in both October and November, same-store sales were down only 1%, which might inject a bit of investor optimism... It will be an important next few months for PLAY in terms of assessing the durability and sustainability of any 'Back To Basics' plan turnaround"

Co posted Q3 rev of $448.2 mln, missing analyst est. of $469.7 mln; adj. loss of $1.14/ share vs est. of $0.79/ share - data compiled by LSEG

Average rating of 12 analysts on the stocks is a "hold"; median PT at $28 - data compiled by LSEG

Including session's movers, PLAY down about 28% YTD