Take-Two Interactive Analysts Examine Q4: GTA 6 Trailer Will 'Remove Investor Worries'

Shares of Take-Two Interactive Software, Inc TTWO were climbing in early trading on Thursday, after the company reported its fiscal second-quarter results.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.

• Oppenheimer analyst Martin Yang maintained an Outperform rating, which raising the price target from $157 to $170.
• Bank of America analyst Omar Dessouky maintained a Buy rating and price target of $170.
• Raymond James analyst Andrew Marok reiterated an Outperform rating and price target of $170.

Check out other analyst stock ratings.

Oppenheimer: Take-Two Interactive Software reported net bookings of $1.44 billion, beating the consensus estimates of $1.43 billion, Yang said in a note.
“Despite 4% Y/Y decline due to continued macro uncertainty, bookings were at the high-end of guidance range driven by outperformance from GTA V and RDR 2,” he added. “Management reaffirmed its FY24 bookings guidance of $5.5B, but walked back slightly regarding its FY25 outlook ($8B) due to changes in the timing of title releases,” the analyst further wrote.

BofA Securities: “GTAO and GTA 5 exceeded internal expectations, while overall RCS were inline at -7% Y/Y,” Dessouky wrote in a note. “As expected, mobile IAP bookings were down sequentially (-4% Q/Q), and advertising revenues were also down Q/Q."
“TTWO now expects Zynga (like-for-like) modestly down in FY24 because of reduced hypercasual advertising expenditures aimed at improving profitability,” the analyst further stated.

Raymond James: “Take-Two reported F2Q24 results slightly above consensus on top line with solid performance from GTA Online and NBA 2K RCS offsetting slightly weaker NBA 2K24 unit sales,” Marok wrote.

“FY25 commentary was very modestly below prior $8B expectations, but most importantly, we received confirmation that a GTA 6 trailer is coming in December, removing one of the few remaining worries for investors,” he added.

TTWO Price Action: Shares of Take-Two Interactive Software had risen by 2.38% to $146.89 at the time of publication Thursday.