TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $119.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.21% from the stock’s current price.

According to Zacks, “Take Two reported impressive second-quarter fiscal 2019 results. Revenues increased on a year-over-year basis driven by strong net bookings and solid demand for Grand Theft Auto V, Grand Theft Auto Online and the successful release of NBA 2K19. The release of Red Dead Redemption 2 is a key game changer for Take Two in the holiday season. Additionally, the company has a solid release slate with titles like The Golf Club 2019 and Sid Meier's Civilization VI for Nintendo Switch. Shares have outperformed the industry on a year-to-date basis. However, the company’s heavy dependence on a handful of franchise is a headwind. Moreover, increased competition remains a key concern.”

Several other research firms have also weighed in on TTWO. BidaskClub raised shares of TAKE-TWO INTERACTIVE SOFTWARE from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. Bank of America lifted their price objective on shares of TAKE-TWO INTERACTIVE SOFTWARE from $151.00 to $156.00 and gave the stock a “buy” rating in a research note on Thursday, November 8th. Stifel Nicolaus lifted their price objective on shares of TAKE-TWO INTERACTIVE SOFTWARE from $131.00 to $137.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. Wedbush set a $150.00 price objective on shares of TAKE-TWO INTERACTIVE SOFTWARE and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Finally, Sanford C. Bernstein initiated coverage on shares of TAKE-TWO INTERACTIVE SOFTWARE in a research note on Tuesday, October 9th. They set an “outperform” rating and a $175.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. TAKE-TWO INTERACTIVE SOFTWARE has an average rating of “Buy” and an average target price of $143.41.

Shares of NASDAQ TTWO traded down $0.89 during mid-day trading on Tuesday, hitting $105.11. The company’s stock had a trading volume of 154,592 shares, compared to its average volume of 3,648,051. The firm has a market capitalization of $12.97 billion, a PE ratio of 59.79, a price-to-earnings-growth ratio of 2.19 and a beta of 1.09. TAKE-TWO INTERACTIVE SOFTWARE has a one year low of $92.81 and a one year high of $139.91.

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) last issued its earnings results on Wednesday, November 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.16. The company had revenue of $583.42 million for the quarter, compared to analyst estimates of $549.87 million. TAKE-TWO INTERACTIVE SOFTWARE had a net margin of 11.76% and a return on equity of 18.08%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. As a group, equities research analysts expect that TAKE-TWO INTERACTIVE SOFTWARE will post 3.05 EPS for the current year.

In other TAKE-TWO INTERACTIVE SOFTWARE news, VP Daniel P. Emerson sold 13,268 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $123.63, for a total transaction of $1,640,322.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul E. Viera bought 75,000 shares of the company’s stock in a transaction on Monday, August 27th. The shares were bought at an average price of $133.93 per share, for a total transaction of $10,044,750.00. Following the completion of the acquisition, the director now directly owns 926 shares in the company, valued at approximately $124,019.18. The disclosure for this purchase can be found here. Company insiders own 1.07% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its holdings in TAKE-TWO INTERACTIVE SOFTWARE by 307.3% during the 3rd quarter. Signaturefd LLC now owns 778 shares of the company’s stock worth $107,000 after buying an additional 587 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of TAKE-TWO INTERACTIVE SOFTWARE by 169.9% in the third quarter. Capital Advisors Ltd. LLC now owns 834 shares of the company’s stock valued at $115,000 after purchasing an additional 525 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of TAKE-TWO INTERACTIVE SOFTWARE in the second quarter valued at approximately $130,000. Girard Partners LTD. acquired a new stake in shares of TAKE-TWO INTERACTIVE SOFTWARE in the third quarter valued at approximately $137,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of TAKE-TWO INTERACTIVE SOFTWARE in the second quarter valued at approximately $155,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.

TAKE-TWO INTERACTIVE SOFTWARE Company Profile

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under Private Division and Social Point labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; and offers downloadable episodes, content and virtual currency, and releasing titles for smartphones and tablets.

Further Reading: Return on Equity (ROE)

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