Take-Two Interactive Smashes Earnings Expectations, Eyes Higher Q3
Take-Two Interactive's revenue and earnings have soared, surpassing expectations. The company is now eyeing even higher earnings in the coming quarter. Meanwhile, institutional investors are split on the gaming giant's stock market, with some reducing their stakes and others increasing theirs. A free analysis is available to help shareholders make decisions.
Take-Two's fiscal year revenue surged 16.4% to $1.5 billion, with earnings per share reaching $0.61, far exceeding the expected $0.28. For the current quarter, the company is targeting earnings per share between $0.85 and $0.95.
Institutional investors are divided in their stance on Take-Two's stock market. Beech Hill Advisors reduced their stake by 35%, while Allianz Asset Management increased theirs by 3.1%. Given that 95% of Take-Two's shares are held by institutional investors, their decisions significantly influence the stock market's trajectory.
Analysts remain bullish on Take-Two's stock market. In October, Benchmark raised its price target to $300 and issued a positive recommendation. Wedbush also maintained a 'Buy' or 'Outperform' rating, setting a target of $275. The stock market is currently in the spotlight due to upcoming quarterly earnings and rumors of a Grand Theft Auto 6 trailer. Rumors suggest this trailer could be released around November 8, which could significantly impact the stock market's performance. However, some analysts caution that the stock market may already be pricing in much of the GTA hype, and a failure to deliver could lead to a quick rally deflation.
Take-Two's strong financial performance and bullish analyst sentiments have put the stock market in the limelight. With institutional investors divided and a potential GTA 6 trailer on the horizon, shareholders await the upcoming quarterly earnings with keen interest. A free analysis is available to help them make informed decisions.
