Morgan Stanley Forecasts Strong Price Appreciation for Take-Two Interactive Software (NASDAQ:TTWO) Stock

Take-Two Interactive Software (NASDAQ:TTWO) had its target price hoisted by investment analysts at Morgan Stanley from $275.00 to $280.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 14.06% from the stock’s previous close.

Several other research analysts also recently commented on TTWO. Weiss Ratings restated a “sell (d)” rating on shares of Take-Two Interactive Software in a report on Wednesday, October 8th. Zacks Research downgraded Take-Two Interactive Software from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Wedbush increased their target price on shares of Take-Two Interactive Software from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Cowen restated a “buy” rating on shares of Take-Two Interactive Software in a report on Tuesday, November 25th. Finally, Wall Street Zen cut shares of Take-Two Interactive Software from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Twenty equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $267.57.

Take-Two Interactive Software Stock Down 0.8%

NASDAQ:TTWO opened at $245.49 on Tuesday. The stock has a fifty day simple moving average of $246.08 and a 200-day simple moving average of $243.63. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The company has a market cap of $45.36 billion, a price-to-earnings ratio of -10.87, a price-to-earnings-growth ratio of 3.95 and a beta of 0.92. Take-Two Interactive Software has a twelve month low of $179.58 and a twelve month high of $264.79.

Take-Two Interactive Software (NASDAQ:TTWO) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. Take-Two Interactive Software had a negative net margin of 64.26% and a positive return on equity of 12.49%. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter last year, the business posted ($2.08) EPS. Analysts anticipate that Take-Two Interactive Software will post 0.97 EPS for the current year.

Insider Activity at Take-Two Interactive Software

In related news, Director Michael Sheresky sold 182 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $235.11, for a total transaction of $42,790.02. Following the completion of the sale, the director owned 65,781 shares of the company’s stock, valued at $15,465,770.91. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ellen F. Siminoff sold 414 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $235.95, for a total transaction of $97,683.30. Following the completion of the sale, the director owned 2,716 shares of the company’s stock, valued at approximately $640,840.20. This trade represents a 13.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Take-Two Interactive Software

Several institutional investors have recently added to or reduced their stakes in TTWO. Mirae Asset Global Investments Co. Ltd. increased its stake in Take-Two Interactive Software by 21.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 297,783 shares of the company’s stock valued at $72,317,000 after buying an additional 52,524 shares during the period. Ninety One UK Ltd lifted its stake in shares of Take-Two Interactive Software by 22.8% in the 2nd quarter. Ninety One UK Ltd now owns 1,801,582 shares of the company’s stock worth $437,514,000 after acquiring an additional 334,946 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Take-Two Interactive Software by 79.2% in the second quarter. Perigon Wealth Management LLC now owns 2,251 shares of the company’s stock valued at $547,000 after acquiring an additional 995 shares in the last quarter. Swiss National Bank increased its stake in shares of Take-Two Interactive Software by 7.9% during the second quarter. Swiss National Bank now owns 534,308 shares of the company’s stock worth $129,757,000 after acquiring an additional 38,900 shares during the period. Finally, Norges Bank acquired a new position in shares of Take-Two Interactive Software during the second quarter worth about $731,047,000. Institutional investors and hedge funds own 95.46% of the company’s stock.

Take-Two Interactive Software Company Profile

Take-Two Interactive Software is an American video game publisher headquartered in New York City. Founded in 1993 by Ryan Brant, the company is publicly traded on the NASDAQ under the ticker TTWO and is led by Chairman and CEO Strauss Zelnick. Take-Two operates through distinct publishing labels that manage development, marketing and distribution of interactive entertainment for a global audience.

Take-Two’s publishing portfolio includes Rockstar Games and 2K, as well as the Private Division label, which supports independent and mid-size developers.