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

Take-Two Interactive Software (NASDAQ:TTWO – Get Rating) updated its first quarter 2024 earnings guidance on Friday. The company provided EPS guidance of $0.25-$0.34 for the period, compared to the consensus EPS 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 Price Performance

NASDAQ:TTWO traded up $1.89 during trading hours 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 debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 0.65. Take-Two Interactive Software has a 52 week low of $90.00 and a 52 week high of $141.96. The company has a 50 day moving average price of $123.46 and a two-hundred day moving average price of $112.34. The stock has a market capitalization of $23.38 billion, a PE ratio of -20.30, a PEG ratio of 4.38 and a beta of 0.69.

Take-Two Interactive Software (NASDAQ:TTWO – Get Rating) last released its quarterly earnings data on Wednesday, May 17th. The company reported ($3.62) earnings per share (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 the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue was up 64.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Take-Two Interactive Software will post 3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TTWO shares. Morgan Stanley lifted their price objective on Take-Two Interactive Software from $145.00 to $158.00 in a research note on Thursday, May 18th. Truist Financial upped their target price on Take-Two Interactive Software from $140.00 to $158.00 in a report on Friday, May 19th. JPMorgan Chase & Co. dropped their price target on Take-Two Interactive Software from $144.00 to $140.00 and set an overweight rating on the stock in a research report on Tuesday, February 7th. Roth Mkm dropped their price objective on Take-Two Interactive Software from $140.00 to $130.00 and set a buy rating on the stock in a research report on Tuesday, February 7th. Finally, StockNews.com initiated coverage on Take-Two Interactive Software in a research note on Thursday, May 18th. They issued a sell rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $145.46.

Insider Buying and Selling

In related news, President Karl Slatoff sold 68,351 shares of Take-Two Interactive Software stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $122.12, for a total transaction of $8,347,024.12. Following the transaction, the president now owns 262,678 shares in the company, valued at $32,078,237.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Take-Two Interactive Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTWO. Money Concepts Capital Corp grew its stake in Take-Two Interactive Software by 73.2% during the 4th quarter. Money Concepts Capital Corp now owns 284 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Take-Two Interactive Software by 50.0% during the 1st quarter. First Horizon Advisors Inc. now owns 282 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of Take-Two Interactive Software during the 4th quarter worth about $37,000. Harbour Investments Inc. boosted its position in shares of Take-Two Interactive Software by 60.7% during the 4th quarter. Harbour Investments Inc. now owns 376 shares of the company’s stock worth $39,000 after acquiring an additional 142 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Take-Two Interactive Software by 91.9% in the 1st quarter. Advisory Services Network LLC now owns 570 shares of the company’s stock valued at $68,000 after purchasing an additional 273 shares during the period. Hedge funds and other institutional investors own 87.72% of the company’s stock.

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.