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

Take-Two Interactive Software (NASDAQ:TTWO – Get 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.

Several equities analysts recently commented on the stock. MKM Partners reduced their target price on shares of Take-Two Interactive Software to $180.00 and set a na rating on the stock in a report on Tuesday, May 17th. StockNews.com started coverage on shares of Take-Two Interactive Software in a report on Thursday, March 31st. They set a hold rating on the stock. Wells Fargo & Company dropped their price target on shares of Take-Two Interactive Software to $185.00 and set a na rating for the company in a research report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Take-Two Interactive Software from $225.00 to $215.00 and set a buy rating for the company in a research report on Wednesday, February 9th. Finally, Morgan Stanley dropped their target price on shares of Take-Two Interactive Software from $215.00 to $195.00 and set an overweight rating for the company in a research report on Tuesday, May 17th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Buy and a consensus price target of $187.57.

Shares of NASDAQ TTWO opened at $116.12 on Monday. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 32.44, a P/E/G 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 firm’s 50-day moving average price is $134.80 and its 200-day moving average price is $155.76.

Take-Two Interactive Software (NASDAQ:TTWO – Get Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.70 by $0.25. The company had revenue of $845.78 million for the quarter, compared to the consensus estimate of $884.62 million. Take-Two Interactive Software had a net margin of 11.93% and a return on equity of 12.63%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 EPS. On average, equities analysts forecast that Take-Two Interactive Software will post 4.51 EPS for the current fiscal year.

In related news, President Karl Slatoff sold 152,373 shares of the company’s stock in a transaction dated 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 directly owns 437,067 shares in the company, valued at approximately $60,594,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Capital World Investors purchased a new stake in shares of Take-Two Interactive Software in the 1st quarter worth approximately $513,164,000. Vanguard Group Inc. lifted its position in shares of Take-Two Interactive Software by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 12,458,920 shares of the company’s stock worth $1,915,435,000 after purchasing an additional 118,028 shares during the period. Gabelli Funds LLC lifted its position in shares of Take-Two Interactive Software by 175.3% in the 1st quarter. Gabelli Funds LLC now owns 171,117 shares of the company’s stock worth $26,308,000 after purchasing an additional 108,967 shares during the period. Lazard Asset Management LLC lifted its position in shares of Take-Two Interactive Software by 130.5% in the 1st quarter. Lazard Asset Management LLC now owns 136,612 shares of the company’s stock worth $21,002,000 after purchasing an additional 77,356 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of Take-Two Interactive Software by 114.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 79,860 shares of the company’s stock worth $12,278,000 after purchasing an additional 42,660 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

About Take-Two Interactive Software (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.

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