Connect with us

CWEB Business News

Take-Two Interactive Downgraded to Hold at Oppenheimer

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) shares rose nearly 10% since the company’s reported Q1 results last week, with revenue of $1.1 billion coming in better than the Street estimate of $1.09 billion.
Analysts at Deutsche Bank downgraded the company to hold from buy and lowered the price target to $160 from $200.
The analysts lowered their estimates for net bookings by approximately 10% and for adjusted EPS by 20% in 2024 and 2025. The change to their forecast follows the company’s updated guidance, which includes an estimated 6-7% reduction in expected net bookings for the company’s core business, and a softer outlook for the Zynga portfolio as well.

Follow us on Google news for more updates and News

Full Disclaimer

More in CWEB Business News



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.