Take-Two Interactive Software (NASDAQ:TTWO) Issues Q1 2023 Earnings Guidance

Take-Two Interactive Software (NASDAQ:TTWOGet Rating) updated its first quarter 2023 earnings guidance on Monday. The company provided EPS guidance of $0.60-$0.70 for the period, compared to the consensus EPS estimate of $0.90. The company issued revenue guidance of $700.00 million-$750.00 million, compared to the consensus revenue estimate of $776.28 million.Take-Two Interactive Software also updated its FY 2023 guidance to $4.20-$4.45 EPS.

A number of research firms have weighed in on TTWO. Oppenheimer reduced their target price on shares of Take-Two Interactive Software from $215.00 to $190.00 and set a na rating on the stock in a report on Tuesday, May 17th. Bank of America began coverage on shares of Take-Two Interactive Software in a report on Wednesday, April 6th. They set a buy rating on the stock. KeyCorp boosted their target price on shares of Take-Two Interactive Software from $185.00 to $190.00 and gave the stock an overweight rating in a report on Tuesday, February 8th. TheStreet lowered shares of Take-Two Interactive Software from a b rating to a c+ rating in a report on Tuesday, March 8th. Finally, Cowen reduced their target price on shares of Take-Two Interactive Software to $185.00 and set a na rating on the stock in a report on Tuesday, May 17th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Take-Two Interactive Software currently has a consensus rating of Buy and a consensus price target of $186.91.

NASDAQ TTWO traded down $1.65 on Wednesday, hitting $121.04. 46,653 shares of the company were exchanged, compared to its average volume of 2,708,552. The company has a market cap of $14.02 billion, a PE ratio of 34.27, a PEG ratio of 1.51 and a beta of 0.77. Take-Two Interactive Software has a 12 month low of $101.85 and a 12 month high of $195.82. The stock has a fifty day moving average of $133.90 and a 200-day moving average of $155.08.

Take-Two Interactive Software (NASDAQ:TTWOGet Rating) last issued its earnings results on Monday, May 16th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.25. The business had revenue of $845.78 million for the quarter, compared to analyst estimates of $884.62 million. Take-Two Interactive Software had a net margin of 11.93% and a return on equity of 12.63%. Take-Two Interactive Software’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. As a group, research analysts anticipate that Take-Two Interactive Software will post 4.51 earnings per share for the current year.

In other Take-Two Interactive Software news, President Karl Slatoff sold 152,373 shares of the company’s stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $138.64, for a total transaction of $21,124,992.72. Following the transaction, the president now owns 437,067 shares in the company, valued at $60,594,968.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in Take-Two Interactive Software during the first quarter worth $167,000. Flagship Harbor Advisors LLC acquired a new position in Take-Two Interactive Software during the fourth quarter worth $204,000. Raymond James Trust N.A. purchased a new stake in shares of Take-Two Interactive Software in the first quarter valued at about $206,000. Cetera Investment Advisers purchased a new stake in shares of Take-Two Interactive Software in the fourth quarter valued at about $216,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Take-Two Interactive Software in the first quarter valued at about $290,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Take-Two Interactive Software Company Profile (Get Rating)

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, Social Point, and Playdots labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead Redemption names; and offers episodes and content.

Further Reading

Earnings History and Estimates for Take-Two Interactive Software (NASDAQ:TTWO)

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