Take-Two Interactive Shares Surge Amid Acquisition Speculation
Take-Two Interactive (TTWO) shares have surged, reaching a record high and sparking speculation about a potential acquisition. The stock is trading near an acquisition offer of $210 per share, after gaining over 16% in the last five days.
TTWO's impressive performance is backed by strong financials. In the latest quarter, net bookings soared 17% to $1.42 billion, surpassing expectations. Recurrent consumer spending accounted for 83% of these bookings. The company also bolstered its portfolio by acquiring Gearbox Entertainment for $460 million, bringing the popular Borderlands franchise in-house.
Analysts have taken note, rating TTWO stock a 'Strong Buy' with an average target price of $264.04. The global gaming market's projected growth to $520 billion in 2025 and $730 billion by 2030 further underscores TTWO's potential. The company has raised its fiscal 2026 net bookings guidance to $6.05 to $6.15 billion, reflecting this optimism.
While no specific institutions have publicly shown interest in acquiring TTWO, the recent acquisition offer and stock surge suggest potential suitors. TTWO's strong financial performance and the gaming market's growth prospects make it an attractive target. However, with TTWO stock up 70% over the past 52 weeks and about 40% year-to-date, any acquisition would likely come at a high price.
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