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Investing.com - Take-Two Interactive (NASDAQ:TTWO) shares declined in after-hours trading despite reporting strong quarterly results, as the company announced another delay for its highly anticipated Grand Theft Auto VI game. The $42.8 billion market cap gaming giant has seen its stock surge 37% year-to-date, according to InvestingPro data, though current trading levels appear overvalued compared to its Fair Value.
BMO Capital raised its price target on Take-Two to $275.00 from $252.00 while maintaining an Outperform rating on the stock. The firm described the second-quarter results as "impressive" and views the stock decline following the GTA VI delay news as "a buying opportunity for investors." This aligns with the broader analyst sentiment, as InvestingPro shows a strong consensus recommendation of 1.41, with the most optimistic price target reaching $316.
The video game publisher pushed back the release date for Grand Theft Auto VI by six months, with the game now scheduled to launch on November 19, 2026. This marks another postponement for the title, which is expected to be one of the biggest game releases in the company’s history.
Take-Two’s strong fiscal second-quarter performance was driven by better-than-expected results across key franchises. NBA 2K26 was a standout performer, with recurrent consumer spending growing 45% year-over-year, along with double-digit growth in unit sales and a record average selling price. The company achieved 13.98% revenue growth in the last twelve months, though InvestingPro data indicates it wasn’t profitable during this period.
BMO Capital reiterated Take-Two as a "Top Pick" despite the GTA VI delay, citing the company’s overall strong performance and raising its fiscal year 2026 guidance. For deeper insights into Take-Two’s financial health and valuation metrics, check out the comprehensive Pro Research Report available on InvestingPro, which offers expert analysis on this and 1,400+ other US equities.
In other recent news, Take-Two Interactive reported its second-quarter fiscal 2026 earnings, which revealed a significant miss on earnings per share (EPS) expectations. The company posted an EPS of -$0.73, falling short of the anticipated $0.94, resulting in a negative surprise of 177.66%. Despite this miss, Take-Two exceeded revenue expectations, reporting $1.77 billion compared to the forecasted $1.72 billion, marking a 2.91% positive surprise. UBS responded to these results by raising its price target for Take-Two to $292 from $285, while maintaining a Buy rating, highlighting the company’s strong performance. Take-Two also announced a delay in the release of Grand Theft Auto VI to November 2026, approximately six months later than previously planned. These developments reflect recent changes in the company’s outlook and performance.
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