Deutsche Bank Aktiengesellschaft, a leading financial services company, recently increased its target price for Take-Two Interactive Software (NASDAQ:TTWO) from $120.00 to $155.00 per share. This latest development was first reported by The Fly on June 3, 2023. This positive update has generated significant buzz in the gaming industry and among investors.
Take-Two Interactive Software is a well-established player in the gaming industry, known for developing and publishing interactive video games across different platforms, including consoles, handheld devices, personal computers and mobile phones. The company’s wide range of offerings caters to various age groups and demographics, with games featuring diverse themes such as sports, action-adventure, simulation and strategy.
Despite its good reputation in the industry, Take-Two Interactive Software faced some disappointing results in the recent quarter earnings report. On May 17th 2023, the firm released its quarterly earnings report where it fell short of market expectation with an EPS of -$3.62 compared to an anticipated EPS of $0.68.
Despite this setback however there are still positives to take from their quarterly results which showed revenue surge up by 64.7% YoY with $1.39 billion compared with market estimates of $1.34 billion.
The overall outlook for Take-Two Interactive Software remains promising despite those figures according to top analysts who are projecting that the company will post EPS of 3.1 for this fiscal year.
With Deutsche Bank Aktiengesellschaft raising its target price for the stock it is not surprising that other analysts are predicting continued success in stock performance relative to the current economic conditions; hence it represents a sound investment option moving forward for those interested within gaming or technology sectors market shares.
Investors eagerly await further updates on Take-Two Interactive Software’s financial performance alongside their newest projects set for subsequent release throughout 2023 having spent heavily into development works. With positive industry predictions from numerous sources, gamers and investors alike can expect to see the company reach greater heights soon.”
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Take-Two Interactive Software Opens at $137.59 with $23.30 Billion Market Capitalization and Mixed Analyst Ratings
Take-Two Interactive Software, an American video game holding company that develops, publishes, and markets interactive software games for console systems, handheld gaming systems and personal computers including smartphones and tablets, opened at $137.59 on Friday, June 3rd. The stock has a market capitalization of $23.30 billion with a PE ratio of -20.14 and a beta of 0.68. The business has a 50-day simple moving average of $125.65 and a 200-day simple moving average of $113.69.
The target price for Take-Two Interactive Software was recently raised by Wedbush from $130 to $154 in their report published on May 18th while JPMorgan Chase & Co lowered their target price from $144 to $140 giving the stock an overweight rating in a research note on February 7th earlier this year.
BNP Paribas lowered its shares in Take-Two Interactive Software from “outperform” to “neutral”, establishing a price objective of up to $120 on April 12th while StockNews.com also started covering the company but issued a “sell” rating on May 18th.
In total six analysts have given the stock a hold rating while eighteen have given it buy ratings; one analyst rated the stock as a sell according to Bloomberg’s analysis- with the current consensus rating being “Moderate Buy”, with an expected target price of $145.27.
Director Michael Sheresky recently sold off 247 shares worth about $33,878 in Take-Two Interactive Software while President Karl Slatoff followed suit by selling over $8 million worth of T2 stocks as well.
Several hedge funds and institutional investors own around about 87.72% of the company’s stock such as Quilter Plc who purchased roughly $411 million worth of TTWO’s stocks last quarter along with Hudson Bay Capital Management who bought a stake in the company worth approximately $1.5 million.
