Rockstar Games owner Take-Two Interactive Software Inc (NASDAQ:TTWO) will update this week, leaving analysts in suspense over news on the latest installation to the Grand Theft Auto series.
Though unlikely, Wedbush analysts said any update on GTA VI will be a key takeaway from the first quarter update, due after hours on Thursday, August 8.
“It has been eight months since the first trailer, and the vast potential of the game remains the focus,” Wedbush said in a note on Monday.
Whether Take-Two reiterates full-year guidance for revenue to climb around 5% to between $5.55 billion and $5.65 billion will also be in focus, analysts said.
Alongside this, the impact of Take-Two’s acquisition of Borderlands developer Gearbox in March will be awaited, though Wedbush noted this would likely be “modest” so far.
Take-Two said GTA VI would come out in the fall of 2025 in results last May, pushing the release of the long-awaited game into its next financial year.
Wedbush analysts highlighted a continued “favourable view of the stock as we approach the launch of GTA VI”, while reiterating an 'outperform' rating.
Forecasting bookings and per-share earnings of $1.25 billion and $0.10 respectively for the quarter just gone, Wedbush also maintained a $190 share price target, marking a 30% premium to Friday’s close.