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Take-Two Interactive Software Inc TTWO Stock Quote

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Morningstar‘s Stock Analysis TTWO

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Take-Two’s New Mobile Future Is off to a Shaky Start; Lowering FVE to $165

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

Take-Two posted its second straight weak quarter for fiscal 2023 and management lowered its already relatively underwhelming fiscal 2023 top-line guidance that includes 10 months of contribution from Zynga. The lower guidance was due to game release shifts and lower mobile expectations along with currency headwinds and the impact from the economy. Even with the recent hiccups, management remains very optimistic about the long-term growth potential for the combined business. We largely agree with this take as we expect the extensive game pipeline and proven franchises on console, PC, and mobile to overcome the current challenges facing Take-Two. However, we are lowering our fair value estimate to $165 from $185 to account for lower 2023 projections and slightly lower revenue in 2024.

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Key Statistics TTWO

Company Profile TTWO

Business Description

Found in 1993, Take-Two consists of three wholly owned labels, Rockstar Games, 2K, and Zynga. The firm is one of the world's largest independent video game publishers on consoles, PCs, smartphones, and tablets. Take-Two's franchise portfolio is headlined by "Grand Theft Auto" (345 million units sold) and contains other well-known titles such as "NBA 2K," "Civilization," "Borderlands," "Bioshock," and "Xcom." Zynga mobile titles include "Farmville," "Empires & Puzzles," and "CSR Racing.".

110 West 44th Street
New York, NY, 10036
T +1 646 536-2842
Industry Electronic Gaming & Multimedia
Most Recent Earnings Sep 30, 2022
Fiscal Year End Mar 31, 2023
Employees 7,799

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