Bank of America Downgrades TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) to Neutral

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat.com reports. They presently have a $148.00 price objective on the stock. Bank of America‘s target price would indicate a potential upside of 5.33% from the stock’s previous close.

Several other research firms have also issued reports on TTWO. BidaskClub raised TAKE-TWO INTERACTIVE SOFTWARE from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Stephens upped their target price on TAKE-TWO INTERACTIVE SOFTWARE from $110.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler upped their target price on TAKE-TWO INTERACTIVE SOFTWARE from $141.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday. Benchmark upped their target price on TAKE-TWO INTERACTIVE SOFTWARE from $142.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Nomura upped their target price on TAKE-TWO INTERACTIVE SOFTWARE from $120.00 to $137.00 in a report on Thursday. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $140.44.

Shares of TAKE-TWO INTERACTIVE SOFTWARE stock opened at $140.51 on Thursday. The company has a market cap of $15.67 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 4.86 and a beta of 0.56. TAKE-TWO INTERACTIVE SOFTWARE has a 52 week low of $100.00 and a 52 week high of $149.28. The business has a 50 day moving average price of $125.95 and a 200-day moving average price of $121.09. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 0.06.

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) last issued its quarterly earnings data on Wednesday, May 20th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $0.90 by $0.60. The firm had revenue of $729.42 million during the quarter, compared to the consensus estimate of $585.27 million. TAKE-TWO INTERACTIVE SOFTWARE had a return on equity of 18.22% and a net margin of 13.09%. The company’s quarterly revenue was up 49.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, research analysts anticipate that TAKE-TWO INTERACTIVE SOFTWARE will post 3.14 EPS for the current year.

In related news, CFO Lainie Goldstein sold 16,933 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $135.01, for a total value of $2,286,124.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel P. Emerson sold 213 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $123.61, for a total value of $26,328.93. Following the completion of the sale, the insider now owns 49,925 shares in the company, valued at approximately $6,171,229.25. The disclosure for this sale can be found here. Insiders sold 260,474 shares of company stock valued at $31,648,198 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Standard Life Aberdeen plc raised its position in shares of TAKE-TWO INTERACTIVE SOFTWARE by 48.1% in the fourth quarter. Standard Life Aberdeen plc now owns 87,438 shares of the company’s stock worth $10,705,000 after buying an additional 28,393 shares in the last quarter. K.J. Harrison & Partners Inc raised its position in shares of TAKE-TWO INTERACTIVE SOFTWARE by 3.6% in the fourth quarter. K.J. Harrison & Partners Inc now owns 4,300 shares of the company’s stock worth $526,000 after buying an additional 150 shares in the last quarter. Advisor Partners LLC raised its position in shares of TAKE-TWO INTERACTIVE SOFTWARE by 4.4% in the fourth quarter. Advisor Partners LLC now owns 2,792 shares of the company’s stock worth $353,000 after buying an additional 118 shares in the last quarter. Arizona State Retirement System raised its position in shares of TAKE-TWO INTERACTIVE SOFTWARE by 0.6% in the fourth quarter. Arizona State Retirement System now owns 21,252 shares of the company’s stock worth $2,602,000 after buying an additional 119 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of TAKE-TWO INTERACTIVE SOFTWARE by 4.8% in the fourth quarter. American International Group Inc. now owns 47,101 shares of the company’s stock worth $5,767,000 after buying an additional 2,172 shares in the last quarter. Institutional investors own 88.80% of the company’s stock.

TAKE-TWO INTERACTIVE SOFTWARE Company Profile

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under Private Division and Social Point labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; and offers downloadable episodes, content and virtual currency, and releasing titles for smartphones and tablets.

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Analyst Recommendations for TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO)

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