TTWO - Should You Buy Take-Two Interactive Stock at Below $160?
2024-03-25 07:45:00 ET
Video game investors are being offered a deal on Take-Two Interactive (NASDAQ: TTWO) that might help elevate their portfolio returns over the next several years. The video game developer's shares dropped below $160 by mid-March and are down 5% so far in 2024 compared to the wider market's 10% gain.
That performance gap can be explained by Take-Two's early February earnings update that contained some discouraging news about its short-term growth prospects. Yet the developer still expects a flood of new content releases through mid-2025. Let's look at why Take-Two lowered its fiscal year outlook while confirming plans to dramatically boost sales and earnings next year.
The company posted a 3% sales drop as net bookings fell to $1.3 billion from $1.4 billion a year ago. That's about the same rate of decline that investors have seen in the past year, including Take-Two's 4% dip in the prior quarter.
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Should You Buy Take-Two Interactive Stock at Below $160?