Why Take-Two Interactive Shares Are Trading Higher Today

Take-Two Interactive Software Inc TTWO shares are trading higher Tuesday after the company reported better-than-expected financial results and issued guidance above analyst estimates.

Take-Two said fiscal fourth-quarter revenue increased 11% year-over-year to $930 million, which beat the $882.1-million estimate, according to data from Benzinga Pro. The company reported quarterly adjusted earnings of $1.09 per share, which beat the estimate of $1.04 per share. 

Take-Two expects fiscal first-quarter revenue to be between $810 million and $860 million versus the $776.28-million estimate. The company expects quarterly earnings to be in a range of 80 cents to 90 cents per share versus the estimate of 90 cents per share.

Full-year fiscal 2023 revenue is expected to be between $3.67 billion and $3.77 billion. Full-year earnings are expected to be between $1.90 per share and $2.15 per share. 

Related Link: Take-Two Q4 Earnings Highlights: Revenue Beat, Strong Digital Sales, Guidance And More

Analyst Assessment:

• Barclays analyst Mario Lu maintained Take-Two with an Overweight rating and lowered the price target from $220 to $185.
• Credit Suisse analyst Stephen Ju maintained Take-Two with a Neutral rating and lowered the price target from $190 to $182.
• Morgan Stanley analyst Brian Nowak maintained Take-Two with an Overweight rating and lowered the price target from $215 to $195.

TTWO 52-Week Range: $101.85 - $195.82

The stock was up 6.26% at $117 at press time.

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Photo: Vic_B from Pixabay.