Take-Two Interactive Software (NASDAQ:TTWO – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.03-$3.29 for the period, compared to the consensus estimate of $3.52. The company issued revenue guidance of $5.45 billion-$5.55 billion, compared to the consensus revenue estimate of $5.56 billion. Take-Two Interactive Software also updated its Q2 2024 guidance to $0.96-$1.06 EPS.
Analyst Upgrades and Downgrades
TTWO has been the subject of a number of recent research reports. StockNews.com began coverage on shares of Take-Two Interactive Software in a research report on Thursday, May 18th. They set a sell rating for the company. Benchmark upped their target price on Take-Two Interactive Software from $120.00 to $145.00 and gave the stock a buy rating in a research note on Thursday, May 18th. HSBC initiated coverage on Take-Two Interactive Software in a report on Tuesday, July 25th. They issued a buy rating and a $170.00 price target for the company. Truist Financial lifted their target price on shares of Take-Two Interactive Software from $140.00 to $158.00 in a report on Friday, May 19th. Finally, Wedbush raised their price target on shares of Take-Two Interactive Software from $130.00 to $154.00 in a research report on Thursday, May 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Take-Two Interactive Software currently has a consensus rating of Moderate Buy and an average price target of $146.88.
Get Our Latest Stock Report on TTWO
Take-Two Interactive Software Trading Down 0.7 %
Take-Two Interactive Software (NASDAQ:TTWO – Get Free Report) last posted its quarterly earnings data on Wednesday, May 17th. The company reported ($3.62) earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($4.30). Take-Two Interactive Software had a positive return on equity of 3.52% and a negative net margin of 21.02%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company posted $0.87 EPS. The firm’s revenue was up 64.7% compared to the same quarter last year. Sell-side analysts forecast that Take-Two Interactive Software will post 1.55 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Michael Sheresky sold 247 shares of Take-Two Interactive Software stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $137.16, for a total transaction of $33,878.52. Following the completion of the sale, the director now directly owns 62,935 shares of the company’s stock, valued at approximately $8,632,164.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Take-Two Interactive Software news, Director Michael Sheresky sold 247 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $137.16, for a total transaction of $33,878.52. Following the sale, the director now owns 62,935 shares of the company’s stock, valued at $8,632,164.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel P. Emerson sold 6,251 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $137.88, for a total value of $861,887.88. Following the transaction, the insider now directly owns 132,296 shares in the company, valued at approximately $18,240,972.48. The disclosure for this sale can be found here. Insiders sold 16,035 shares of company stock worth $2,208,725 over the last 90 days. 1.37% of the stock is owned by insiders.
Institutional Trading of Take-Two Interactive Software
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its stake in shares of Take-Two Interactive Software by 91.9% in the 1st quarter. Advisory Services Network LLC now owns 570 shares of the company’s stock worth $68,000 after acquiring an additional 273 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in Take-Two Interactive Software by 1.6% in the first quarter. Chevy Chase Trust Holdings LLC now owns 92,140 shares of the company’s stock valued at $10,992,000 after purchasing an additional 1,409 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Take-Two Interactive Software in the 1st quarter valued at approximately $1,491,000. Quilter Plc acquired a new position in Take-Two Interactive Software during the 1st quarter worth approximately $411,102,000. Finally, Cim Investment Management Inc. raised its stake in shares of Take-Two Interactive Software by 4.8% during the 1st quarter. Cim Investment Management Inc. now owns 8,490 shares of the company’s stock worth $1,013,000 after buying an additional 392 shares in the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.
About Take-Two Interactive Software
Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games, 2K, Private Division, and Zynga names. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, LA Noire, and Red Dead Redemption names.
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