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Investing.com - BofA Securities has raised its price target on Take-Two Interactive (NASDAQ:TTWO) to $285.00 from $260.00 while maintaining a Buy rating on the stock. The new target represents potential upside from the current price of $226.49, though InvestingPro analysis indicates the stock may be trading above its Fair Value.
The firm cited Take-Two’s first-quarter Net Bookings of $1.42 billion, which exceeded the high end of guidance by 9%. Recurrent consumer spending (RCS) increased 17% year-over-year, significantly outpacing the company’s guidance of 7% growth. This performance contributes to the company’s overall revenue growth of 5.31% over the last twelve months.
BofA Securities noted that NBA 2K showed particularly strong performance, with RCS spend growing 48% year-over-year, accelerating from 42% and 30% growth in the previous two quarters. The analyst attributed this to the Visual Concepts team leveraging deeper consumer insights and serving more targeted content and advertisements.
Mobile gaming also exceeded expectations with 12% year-over-year growth compared to flat guidance, as several top titles achieved double-digit growth and advertising revenue stabilized.
Grand Theft Auto Online benefited from renewed interest following the GTA 6 gameplay trailer release, with new player accounts increasing more than 50% year-over-year, contributing to what BofA Securities described as "a strong quarter with solid execution all around."
In other recent news, Take-Two Interactive Software (ETR:SOWGn) Inc. reported its fiscal Q1 2025 financial results, showcasing a mixed performance. The company achieved a revenue of $1.42 billion, surpassing analyst expectations of $1.31 billion, which represents an 8.4% surprise. Despite this revenue beat, the earnings per share (EPS) were a loss of $0.07, missing the forecasted $0.28 by a significant margin, resulting in a negative surprise of 125%. This mixed outcome highlights the company’s ability to generate higher-than-expected revenue while facing challenges in profitability. These recent developments indicate a complex financial landscape for Take-Two Interactive. Investors may find the revenue growth encouraging, but the EPS miss suggests areas for potential improvement. The earnings report reflects the company’s ongoing efforts to balance revenue generation with profitability.
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