Why Take-Two Stock Is Down Today
Portfolio Pulse from Erica Kollmann
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) shares fell after reporting a 3% year-over-year decrease in third-quarter total net bookings and GAAP net revenue, alongside a GAAP loss per share of 54 cents. The company also revised its 2024 net bookings forecast lower. Despite this, analysts from Roth MKM and Wedbush maintained positive ratings on the stock, with increased price targets. The stock's trading volume surged following the report.
February 09, 2024 | 8:46 pm
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Take-Two Interactive's stock fell due to disappointing Q3 financial results and a lowered forecast for 2024, despite positive analyst ratings and increased price targets.
The decline in Take-Two's stock price is directly related to its reported decrease in net bookings and revenue, alongside a GAAP loss per share. The lowered forecast for 2024 further contributed to negative investor sentiment. However, the impact is somewhat mitigated by positive analyst ratings and increased price targets, indicating a belief in the company's long-term potential.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100