Take-Two Interactive: Positioning for a Multi-Year GTA VI-Led Supercycle and High-Margin Live-Service Growth

Benchmark Co. analyst Mike Hickey reiterated a Buy rating on Take-Two today and set a price target of $300.00.

Mike Hickey has given his Buy rating due to a combination of factors tied to both near-term catalysts and longer-term fundamentals. He views the upcoming launch of Grand Theft Auto VI, together with the expected evolution of GTA Online into a more powerful live-service platform, as the beginning of a multi-year growth cycle rather than a one-off event. The strong and enduring performance of GTA V and GTA Online over the past decade bolsters his confidence that the next installment will meaningfully elevate the company’s revenue and earnings profile. In addition, he highlights Take-Two’s mobile portfolio as entering its best stretch of growth since the Zynga acquisition, with double-digit gains in net bookings and recurring spend across key titles.

Hickey also points to NBA 2K’s record engagement, higher average selling prices, and sharp growth in recurrent consumer spending as evidence that another major franchise is delivering dependable, high-margin live-service revenue. Looking ahead to fiscal 2027, he expects record net bookings fueled by GTA VI, robust performance from core franchises, and a greater mix of digital and recurring revenue, with further optionality from a potential GTA VI PC release and new console cycles. On valuation, he maintains a $300 price target derived from applying a premium earnings multiple to a normalized FY27–FY28 outlook, arguing that the market underestimates the durability and scale of the upcoming GTA VI “supercycle.” Taken together, these elements support his conclusion that Take-Two’s risk/reward profile is attractive at current levels, justifying a Buy recommendation.

In another report released on December 15, DBS also maintained a Buy rating on the stock with a $273.00 price target.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TTWO in relation to earlier this year.