TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Take Two’s well-known franchises that include NBA 2K series, Grand Theft Auto and Red Dead Redemption are the key catalyst. The company has a strong product pipeline with major releases including Sid Meier's Civilization VI: Gathering Storm and Ancestors: The Humankind Odyssey in 2019. The release of Red Dead Redemption 2 was a game changer for Take Two. The company continues to cash in on its expanding gaming portfolio with the addition of well-known games like Dragon City and Monster Legends. Additionally, Take Two is expected to benefit from its transition of physical to digital versions of video games in the near-term. However, Take Two’s heavy dependence on a handful of franchise is a headwind. Moreover, increased competition is expected to hurt market share expansion.”

Other analysts have also issued reports about the company. BidaskClub raised TAKE-TWO INTERACTIVE SOFTWARE from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. Wedbush set a $150.00 price target on TAKE-TWO INTERACTIVE SOFTWARE and gave the company a “buy” rating in a research note on Tuesday, October 30th. Jefferies Financial Group lifted their price target on TAKE-TWO INTERACTIVE SOFTWARE from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, November 8th. Bank of America lifted their price target on TAKE-TWO INTERACTIVE SOFTWARE from $151.00 to $156.00 and gave the company a “buy” rating in a research note on Thursday, November 8th. Finally, Barclays set a $144.00 price target on TAKE-TWO INTERACTIVE SOFTWARE and gave the company a “buy” rating in a research note on Thursday, November 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. TAKE-TWO INTERACTIVE SOFTWARE currently has a consensus rating of “Buy” and an average target price of $143.38.

TAKE-TWO INTERACTIVE SOFTWARE stock opened at $109.03 on Thursday. TAKE-TWO INTERACTIVE SOFTWARE has a 12-month low of $92.81 and a 12-month high of $139.91. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 62.30, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09.

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) last released its earnings results on Wednesday, November 7th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.16. TAKE-TWO INTERACTIVE SOFTWARE had a return on equity of 18.08% and a net margin of 11.76%. The firm had revenue of $583.42 million for the quarter, compared to analysts’ expectations of $549.87 million. During the same quarter in the previous year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that TAKE-TWO INTERACTIVE SOFTWARE will post 3.37 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 553.4% in the second quarter. Advisors Asset Management Inc. now owns 24,059 shares of the company’s stock worth $626,000 after acquiring an additional 20,377 shares during the period. Raymond James & Associates lifted its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 4.4% in the second quarter. Raymond James & Associates now owns 29,739 shares of the company’s stock worth $3,520,000 after acquiring an additional 1,253 shares during the period. USS Investment Management Ltd lifted its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 15.6% in the third quarter. USS Investment Management Ltd now owns 1,275,820 shares of the company’s stock worth $176,044,000 after acquiring an additional 172,218 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 32.0% in the third quarter. Oppenheimer & Co. Inc. now owns 5,284 shares of the company’s stock worth $729,000 after acquiring an additional 1,281 shares during the period. Finally, Oakbrook Investments LLC lifted its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 38.9% in the third quarter. Oakbrook Investments LLC now owns 10,972 shares of the company’s stock worth $1,514,000 after acquiring an additional 3,075 shares during the period. 90.34% of the stock is currently owned by institutional investors.

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.

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