GTA VI Is 36 Days Away and Take-Two Stock Is Down Over 20% This Year. Here’s What Wall Street Is Saying

Take-Two Interactive Software Inc. (NASDAQ:TTWO) shares are in the spotlight, with recent analyst activity, anticipation for the Nov. 19 launch of Grand Theft Auto VI and earnings on the calendar all drawing attention.

• Take-Two shares are trending higher. What’s driving TTWO shares up?

Wells Fargo Cuts Near-Term Estimates but Keeps Its $300 Target for Take-Two

In a recent note, Wells Fargo kept an Overweight rating and a $300 price target on Take-Two while cutting its near-term numbers. It lowered its quarterly bookings estimate by 2% and its adjusted EBITDA estimate by 4%, citing weaker NBA 2K unit assumptions, softer recurrent consumer spending and pressure in mobile. Its adjusted EBITDA range of $876 million to $900 million sits below the consensus of $926 million, according to Investing.com. Shares fell about 4% Tuesday and are down more than 20% this year.

The bullish case rests on GTA VI. Wells Fargo models about 50 million units at an average gross price of $90, well above the roughly 33 million units at $80 implied by Take-Two’s outlook, and it doesn’t expect any quantitative pre-order data before launch.

Raymond James and BofA Stay Bullish as GTA VI Leak Concerns Surface

Raymond James reiterated a Strong Buy rating and a $300 price target Wednesday, addressing concerns about the GTA VI launch after recent leaks of unreleased footage. The firm said it sees limited impact. The vast majority of players are casual and unlikely to ever see the leaks, it said, and console players aren’t affected because the issues are confined to the PC platform. BofA Securities reaffirmed a Buy rating and a $368 price target, the high end of the Street range, amid the same leak concerns. MarketBeat shows a Moderate Buy consensus from 21 analysts with an average target of about $299, in a range of $170 to $368.

GTA VI Arrives Nov. 19, and Take-Two’s Fiscal 2027 Outlook Depends on It

Grand Theft Auto VI launches Nov. 19 on PlayStation 5 and Xbox Series X|S, after two prior delays, and pre-orders are live. Take-Two reiterated its fiscal 2027 net bookings outlook of $8.0 billion to $8.2 billion in August. CFO Lainie Goldstein said in May that this represents about 20% growth from fiscal 2026, driven mainly by the launch. That makes the strength of the rest of the portfolio the bridge to the release, which is why Wells Fargo’s NBA 2K and mobile concerns drew attention.

Take-Two Reports Q2 Results Nov. 9, 10 Days Before Launch

Take-Two announced Tuesday that it will report second-quarter results after the market closes on Monday, Nov. 9, with a call at 4:30 p.m. ET. In its fiscal first quarter, net bookings fell 3% to $1.39 billion, above guidance, and net revenue was $1.53 billion. Investors will watch for any change to the $8.0 billion to $8.2 billion outlook and for commentary on NBA 2K and mobile.

Take-Two Shares Edge Higher

TTWO Price Action: At the time of publication, Take-Two shares are trading 1.19% higher at $202.71, according to data from Benzinga Pro.

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