Take-Two Interactive Software Inc (NASDAQ:TTWO)’s second quarter fiscal 2024 financial results are expected to be largely in-line with the video game maker’s guidance while its full year outlook is likely to remain unchanged, according to Wedbush analysts.
In an update to clients, they noted that investor sentiment continues to be driven by anticipation for the release of the sixth version of Grand Theft Auto (GTA).
"We see the potential for net bookings towards the high end of the range, particularly if GTA Online (from GTA 6 hype and San Andreas Mercenaries) and Zynga ads maintained momentum," the analysts wrote.
Their 2Q estimates are for net bookings of $1.45 billion million and earnings per share (EPS) of $1.05, above the Street consensus.
Analysts at Wedbush added that the Rockstar game has yet to officially provide a name or release date, but the company’s high-level full year 2025 guidance suggests a launch that fiscal year.
They maintaining their ‘Outperform’ rating on Take-Two stock as well as their 12-month price target of $165 per share.
Shares of Take-Two Interactive slipped 2.5% to $131.06 in midday trading on Monday but have gained 27% year to date.
Contact Sean at sean@proactiveinvestors.com