Take-Two Interactive (TTWO) PT Raised to $270 at DA Davidson

DA Davidson analyst Wyatt Swanson raised the price target on Take-Two Interactive (NASDAQ: TTWO) to $270.00 while maintaining a Buy rating.

The analyst comments "F1Q results were well above the high end of guidance, driven by outperformance of several mobile titles as well as the continued success of NBA 2K and the Grand Theft Auto Series. The outperformance led to TTWO raising its FY'26 guide to $6.05B-$6.15B (from $5.9B-$6.0B). F2Q is expected to feature the release of several prominent titles including Mafia: The Old Country, NBA 2K26, and Borderlands 4, which resulted in F2Q Net Bookings Y/Y growth guidance of ~15%-19%. The primary highlight from the quarter on the console-front was the sustained success of NBA 2K25, with 11.5M titles sold to date (up vs. 2K24's 11M titles sold in the same period). TTWO saw daily active users increase by 30% Y/Y, which helped drive 48% growth in recurrent consumer spending. This increase in engagement/RCS was driven by better management and changes in the development process to ensure that highly engaging content continues to be accessible by players in both MyCAREER and MyTEAM. We'd note that our proprietary tracking of console engagement during the quarter (here) highlighted NBA 2K's outperformance. The other highlight from the quarter was mobile's solid outperformance. Going into the quarter, TTWO expected mobile to be ~flat Y/Y in F1Q, but ended up delivering net bookings growth of ~12% (or +$83.5M outperformance). Toon Blast grew 22% Y/Y and nearly 75% on a 2-year basis, driven by the Seasonal Collection feature that provided a new avenue of engagement for the game's millions of active players. Match Factory achieved record net bookings as the title grew 33% Y/Y, driven by new features/levels. Despite this outperformance, TTWO notes that it does anticipate mobile growth to decelerate throughout the year given the maturity of many of its titles."

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