Take-Two Interactive Software, Inc. TTWO shares are down Friday after the company reported its third-quarter financial results after the bell on Thursday. Here's a look at what's going on.
The Details:
Take-Two reported third-quarter total net bookings of $1.34 billion, down 3% year-over-year. The company reported GAAP net revenue of $1.37 billion, also down by 3%, and a GAAP loss per share of 54 cents.
Take-Two revised its 2024 net bookings forecast lower to $5.25 billion and $5.3 billion, down from $5.45 billion and $5.55 billion earlier.
Roth MKM analyst Eric Handler maintained Take-Two Interactive with a Buy and raised the price target from $168 to $185. Additionally, Wedbush analyst Nick McKay reiterated an Outperform buy rating on the stock and maintained a $190 price target following the earnings report.
Take-Two shares fell on heavy volume Friday as investors digested the report. According to data from Benzinga Pro, more than 5.59 million shares have been traded in the session, compared to the stock's 100-day average volume of 1.894 million shares.
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Is TTWO A Good Stock To Buy:
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
Take-Two Interactive TTWO has reported average annual revenue growth of 19.5% over the past 5 years.
It's also important to pay attention to valuation when deciding whether to buy a stock. Take-Two Interactive has a forward P/E ratio of 24.39. This means investors are paying $24.39 for each dollar of expected earnings in the future. The average forward P/E ratio of Take-Two's peers is 26.6.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.
TTWO Price Action: According to Benzinga Pro, Take-Two Interactive shares are down more than 8% at $155.88 at the time of publication.
Image: Grace Baker from Pixabay
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