Take-Two (TTWO) stock was on the rise Tuesday after leaks from the video game publisher revealed how much revenue it has generated from Grand Theft Auto Online. According to these leaks, GTA Online generated $5 billion in revenue from Shark Cards, an in-game currency in GTA Online that players can purchase with real money, over the past decade. To put that in perspective, GTA Online is an online version of Grand Theft Auto V, which cost Take-Two developer Rockstar Games an estimated $235 million to make.
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The Take-Two leak also revealed that some gamers have spent massive amounts of money on Shark Cards. The information in the leak showed that the single largest Shark Card purchase in GTA Online was $1,030,926. However, this wasn’t the only large Shark Card purchase from players. Other instances include $984,000 and $953,000.
News of the huge revenue that Take-Two has generated from GTA Online has investors excited. That’s because the publisher is getting ready to release Grand Theft Auto VI on home consoles and PC later this year. When it does, a new version of GTA Online will be released, which could also generate incredible revenue for the game publisher.
Take-Two Stock Movement Today
Take-Two stock was up 2.51% on Tuesday but was still down 19.38% year-to-date. The stock has also fallen 6.17% over the past 12 months.
TTWO stock trading activity was muted today at roughly 553,000 shares, compared to a three-month average daily trading volume of about 1.79 million shares.
Is Take-Two Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Take-Two is Strong Buy, based on 16 Buy ratings over the past three months. With that comes an average TTWO stock price target of $287.19, representing a potential 39.22% upside for the shares.
