Take-Two Interactive Software (NASDAQ:TTWO) Releases Q1 2024 Earnings Guidance

Take-Two Interactive Software (NASDAQ:TTWO – Get Rating) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.25-$0.34 for the period, compared to the consensus estimate of $0.87. The company issued revenue guidance of $1.15 billion-$1.20 billion, compared to the consensus revenue estimate of $1.29 billion. Take-Two Interactive Software also updated its FY 2024 guidance to $3.03-$3.28 EPS.

Take-Two Interactive Software Stock Up 1.4 %

NASDAQ:TTWO traded up $1.89 during mid-day trading on Friday, reaching $138.62. The stock had a trading volume of 775,469 shares, compared to its average volume of 1,793,001. The company has a market capitalization of $23.38 billion, a price-to-earnings ratio of -20.30, a price-to-earnings-growth ratio of 4.38 and a beta of 0.69. Take-Two Interactive Software has a 1-year low of $90.00 and a 1-year high of $141.96. The stock’s 50 day simple moving average is $123.46 and its two-hundred day simple moving average is $112.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.87.

Take-Two Interactive Software (NASDAQ:TTWO – Get Rating) last posted its quarterly earnings results on Wednesday, May 17th. The company reported ($3.62) EPS 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 firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis. Equities analysts anticipate that Take-Two Interactive Software will post 3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TTWO. DZ Bank downgraded Take-Two Interactive Software from a buy rating to a hold rating and set a $105.00 target price for the company. in a research note on Tuesday, February 14th. Wedbush lifted their target price on Take-Two Interactive Software from $130.00 to $154.00 in a research note on Thursday, May 18th. BMO Capital Markets lifted their target price on Take-Two Interactive Software from $130.00 to $160.00 in a research note on Monday. MKM Partners decreased their target price on Take-Two Interactive Software from $140.00 to $130.00 in a research note on Tuesday, February 7th. Finally, Robert W. Baird lifted their price target on Take-Two Interactive Software from $120.00 to $155.00 in a report on Thursday, May 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Take-Two Interactive Software presently has an average rating of Moderate Buy and an average target price of $145.46.

Insider Buying and Selling at Take-Two Interactive Software

In other Take-Two Interactive Software news, President Karl Slatoff sold 68,351 shares of the business’s stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $122.12, for a total transaction of $8,347,024.12. Following the sale, the president now directly owns 262,678 shares of the company’s stock, valued at approximately $32,078,237.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On Take-Two Interactive Software

A number of hedge funds have recently modified their holdings of TTWO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Take-Two Interactive Software by 6.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,443 shares of the company’s stock worth $2,374,000 after buying an additional 971 shares during the last quarter. Yousif Capital Management LLC increased its position in Take-Two Interactive Software by 1.8% during the first quarter. Yousif Capital Management LLC now owns 16,817 shares of the company’s stock worth $2,585,000 after buying an additional 300 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Take-Two Interactive Software during the first quarter worth $206,000. Dimensional Fund Advisors LP increased its position in Take-Two Interactive Software by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 512,184 shares of the company’s stock worth $78,757,000 after buying an additional 5,382 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Take-Two Interactive Software by 3.2% during the first quarter. Blair William & Co. IL now owns 41,602 shares of the company’s stock worth $6,396,000 after buying an additional 1,289 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

About Take-Two Interactive Software

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Take-Two Interactive Software, Inc engages in the development, publishing, and marketing of interactive software games. Its products are designed for console systems, handheld gaming systems, and personal computers, including smart phones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services.