Investors and analysts expect noteworthy updates on ‘GTA VI,’ which releases on Nov. 19.
- Take-Two said it saw “unprecedented” demand for “GTA VI” in August, after opening pre-orders for the game in June.
- Analysts expect Take-Two’s Q2 to decline 16% to $1.66 billion.
- Retail sentiment for TTWO was ‘bullish’ on Monday.
Take-Two Interactive, Inc. (TTWO) posted its best week in nearly five months last week as investors set their positions ahead of the gaming company’s fiscal second-quarter report due after market hours on Monday.
Take-Two is expected to share more details about ‘Grand Theft Auto VI,’ one of the most anticipated game releases in years, ahead of its Nov. 19 launch, and may even reveal pre-order figures.
In August, the company said it was seeing “unprecedented” demand for the title, though it kept its fiscal 2027 bookings outlook unchanged at $8 billion to $8.20 billion at the time. Pre-orders for ‘GTA VI’ started on June 25.
At the time, Take-Two projected September-quarter bookings between $1.62 billion and $1.67 billion, below market estimates, signaling continued weakness due to the lack of fresh titles outside of “GTA.’
The current version of the game, ‘GTA V,’ is one of the best-selling games of all time, with over 230 million units sold since its 2013 launch. “GTA VI” will be available on PlayStation 5 and Xbox Series X|S at launch.
TTWO stock rose 13% last week and was up 1.3% in overnight trading ahead of Monday.
TTWO Results: Analysts See GTA VI Gains But Caution Of Broader Portfolio
Last week, Macquarie initiated coverage on TTWO with an ‘Outperform’ rating and a $300 price target, which implies a 40% upside from the stock’s last close. The investment research firm said Take-Two was entering a multi-year period of accelerating earnings growth and free cash flow generation driven by the ‘GTA VI’ launch.
On the other hand, BTIG lowered its price target on the stock to $262 from $313 to reflect softer Mobile data and a reduction in its NBA 2K forecasts. On average, analysts expect Take-Two’s Q2 to decline 16% to $1.66 billion and adjusted profit to drop 33% to $0.97 per share, per Koyfin.
Retail View On TTWO
TTWO was among the top trending tickers on Stocktwits at the time of writing, with a ‘bullish’ retail sentiment.
“$TTWO is down 17.7% since its last report, and management called GTA VI pre-orders unprecedented. GTA V has sold over 200M units since 2013,” a trader said.
Another said, “GTA VI launches Nov 19 and fiscal 2027 net bookings guide is $8B to $8.2B, about 20% growth. Operating cash flow expected above $1B. Buying before the biggest launch in gaming at this price.”
One more trader wrote, “Get ready for earnings. Most likely we drop unless Strauss drops the pre-order numbers. In any case I think we’ll recover within a day or two and shoot for a new 52wk high before release.”
Year to date, TTWO stock is down more than 16%.
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