Piper Jaffray Companies Lowers TAKE-TWO INTERACTIVE SOFTWARE (TTWO) Price Target to $114.00

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) had its target price dropped by investment analysts at Piper Jaffray Companies from $119.00 to $114.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Jaffray Companies’ price target would indicate a potential upside of 6.07% from the stock’s previous close.

A number of other research analysts have also weighed in on TTWO. Gabelli initiated coverage on shares of TAKE-TWO INTERACTIVE SOFTWARE in a research report on Wednesday, January 16th. They set a “buy” rating and a $136.00 target price for the company. Deutsche Bank began coverage on shares of TAKE-TWO INTERACTIVE SOFTWARE in a report on Tuesday, January 22nd. They set a “buy” rating and a $130.00 price objective on the stock. MKM Partners dropped their price objective on shares of TAKE-TWO INTERACTIVE SOFTWARE to $130.00 and set a “buy” rating on the stock in a report on Friday, January 25th. Zacks Investment Research upgraded shares of TAKE-TWO INTERACTIVE SOFTWARE from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective on the stock in a report on Tuesday, January 29th. Finally, Goldman Sachs Group began coverage on shares of TAKE-TWO INTERACTIVE SOFTWARE in a report on Wednesday, January 30th. They set a “buy” rating and a $130.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. TAKE-TWO INTERACTIVE SOFTWARE currently has an average rating of “Buy” and a consensus target price of $126.12.

TAKE-TWO INTERACTIVE SOFTWARE stock opened at $107.48 on Tuesday. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.62 and a beta of 0.99. TAKE-TWO INTERACTIVE SOFTWARE has a fifty-two week low of $84.41 and a fifty-two week high of $139.91.

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) last released its earnings results on Monday, May 13th. The company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.07). The firm had revenue of $488.40 million for the quarter, compared to analyst estimates of $500.86 million. TAKE-TWO INTERACTIVE SOFTWARE had a return on equity of 25.95% and a net margin of 12.51%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Equities analysts expect that TAKE-TWO INTERACTIVE SOFTWARE will post 3.54 earnings per share for the current year.

In related news, CEO Strauss Zelnick sold 144,614 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $94.05, for a total value of $13,600,946.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TTWO. JPMorgan Chase & Co. increased its stake in TAKE-TWO INTERACTIVE SOFTWARE by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 2,606,777 shares of the company’s stock valued at $359,708,000 after acquiring an additional 203,912 shares during the period. Nordea Investment Management AB increased its stake in TAKE-TWO INTERACTIVE SOFTWARE by 17.1% in the third quarter. Nordea Investment Management AB now owns 5,599 shares of the company’s stock valued at $773,000 after acquiring an additional 817 shares during the period. Morgan Stanley increased its stake in TAKE-TWO INTERACTIVE SOFTWARE by 2.3% in the third quarter. Morgan Stanley now owns 1,231,902 shares of the company’s stock valued at $169,990,000 after acquiring an additional 27,592 shares during the period. State of Alaska Department of Revenue increased its stake in TAKE-TWO INTERACTIVE SOFTWARE by 5.6% in the fourth quarter. State of Alaska Department of Revenue now owns 19,815 shares of the company’s stock valued at $2,038,000 after acquiring an additional 1,056 shares during the period. Finally, Kistler Tiffany Companies LLC bought a new stake in TAKE-TWO INTERACTIVE SOFTWARE in the fourth quarter valued at about $31,000. 97.13% of the stock is currently owned by institutional investors and hedge funds.

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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