Take-Two Stock Is Up 34%: Is It Too Late to Buy?
After sliding last year with the market sell-off, Take-Two Interactive (NASDAQ: TTWO) has rebounded 34% so far in 2023. The game maker reported better-than-expected earnings results for the fiscal 2023 fourth quarter (ended March 31) that sent the stock soaring.
Take-Two has had a great run over the last decade. Since launching Grand Theft Auto V in September 2013, the stock has soared 674%, significantly beating the S&P 500 index over that decade. However, over the last five years, the stock has been quite volatile, with only a 23% return.
Management's financial outlook for fiscal 2025 is what got the market most excited. Take-Two expects to deliver a record $8 billion in bookings (a non-GAAP measure of revenue) and $1 billion in adjusted unrestricted operating cash flow. This is a big jump over fiscal 2024 guidance for bookings of approximately $5.5 billion, which likely points to a possible release in the Grand Theft Auto series as early as next year.
Source Fool.com
