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Here is a look at what some of Wall Street's top analysts had to say following the earnings report.
Benchmark
Mike Hickey of Benchmark maintains a Buy rating on Take-Two's stock with a price target raised to $60.37 from a previous $51.79.
According to Hickey, Take-Two's stock is still trading at a favorable risk to reward profile, and the company's valuation will benefit from continued strong execution, conservative guidance and on-going digital sales opportunity, which will also help boost margins.
Hickey added that Take-Two's management team earned a reputation as being credible, and its recent performance has resulted in financial upside.
Finally, the analyst pointed out that Take-Two is holding $1.2 billion in cash (or $10.39 per share), and this "significant" balance coupled with the company's "discipline" represents an "increasingly powerful asset."
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MKM
Eric Handler of MKM Partners maintains a Buy rating on Take-Two's stock with a price target raised to $55 from a previous $52.
According to Handler, Take-Two is generated impressive results as the company's lineup of games performed better than expected and management's outlook for the full year was even more impressive.
Handler added that Take-Two's "Grand Theft Auto" franchise "continues to print money" as "GTA V" lifetime sales rose above 70 million units and "GTA Online" is still generating year-over-year growth.
In addition, "NBA 2K17" set a new franchise record for first week sales and the company will also benefit from the "Mafia III" and "Civilization VI" franchises.
Looking forward to fiscal 2018, the company will release the much anticipated "Red Dead Redemption 2" and the potential for several yet to be announced "2K" games.
Cowen
Doug Creutz of Cowen and Company maintains an Outperform rating Take-Two's stock with a price target raised to $54 from a previous $51.
Creutz suggested that Take-Two "crushed" even its own guidance in its earnings report, and management's upwardly revised guidance "all but de-risked" the rest of the year and created a "clear pathway" toward the major catalyst of "Red Dead Redemption 2."
Creutz also stated that Take-Two is on track to post its third consecutive year of reporting an earnings per share of $1.70 despite no initial launches in its biggest titles ("GTA," "Red Dead" and "Borderlands").
Image Credit: JetskiTradeCenter at nl.wikipedia [CC BY-SA 3.0 or GFDL], via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.