BTIG has lowered its price target for Take-Two Interactive to $262 from $313, citing concerns over mobile segment headwinds and the recent performance of the NBA 2K franchise. Despite the reduction, the firm maintained a Buy rating on the stock, which closed recently at $208.90. The adjustment comes as the publisher prepares for its fiscal second-quarter earnings report, scheduled for release on November 9, 2026, after market close.
Mobile Weakness and NBA 2K Performance
Analyst Clark Lampen adjusted the firm’s estimates for the fiscal second quarter of 2027, pointing to softer-than-expected data from the company’s mobile division. Specifically, the game Color Block Jam has underperformed, acting as a primary drag on mobile revenue. Simultaneously, the latest iteration of the NBA 2K series has faced challenges, with user engagement data remaining flat compared to previous versions and critical reception falling short of initial internal expectations.
These factors prompted BTIG to adopt a more conservative outlook on the company’s valuation, shifting its earnings multiple to 27 times, down from a previous estimate of 30 times. The firm’s updated financial modeling now projects $7.14 in operating earnings per share for the 2028 fiscal year, compared to $8.70 for 2027.
Delayed Releases Shift Earnings Expectations
Take-Two has also recalibrated its internal timelines for major releases, which has shifted earnings visibility for the coming years. The company now anticipates that its PC pipeline launch will move into the fourth quarter of fiscal 2027, rather than the first quarter of fiscal 2028. This change has created a corresponding one-quarter delay in the projected launch window for new GTA Online content.
Wall Street consensus currently estimates earnings of $6.70 per share for the 2027 fiscal year. While the company recorded a loss of $1.73 per share over the last twelve months, financial analysts project a return to profitability within the current fiscal year.
Analysts Split on GTA 6 Expectations
The reduction in the target price by BTIG follows a period of mixed analyst sentiment regarding the publisher’s long-term trajectory. Piper Sandler maintains an Overweight rating with a $290 price target, citing high anticipation for Grand Theft Auto 6 based on surveys of younger demographic groups. Conversely, BofA Securities remains bullish with a $330 target, advising investors to maintain long positions in anticipation of the long-term growth the next GTA title is expected to drive.
Other firms have expressed more caution. Wedbush lowered its price target from $300 to $280, pointing to reduced earnings per share estimates for fiscal 2029. StoneX, while reiterating a Buy rating at $300, highlighted ongoing concerns regarding the development timeline for GTA VI Online and the initial sales trajectory of the current NBA 2K cycle. Raymond James continues to hold a Strong Buy rating at $300, noting that while risks surrounding the GTA VI launch exist, the potential impact remains limited relative to the franchise’s overall scale.
Management Must Detail 2028 Earnings Plans
Investors are looking for greater clarity from Take-Two’s management regarding specific earnings contributors for the 2028 fiscal year. The firm noted that further disclosures regarding new intellectual property and the specific monetization framework for Grand Theft Auto 6—and how it might differ from the model used for Grand Theft Auto 5—would likely serve as positive catalysts for the stock.
Take-Two Interactive is set to provide its next official update on these projections and operational performance when it reports its fiscal 2027 second-quarter results on November 9, 2026.
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