NEW YORK, August 13, 2026, 18:40 EDT — U.S. stock markets had ended regular session trading, but after-hours activity continued.
- Take-Two shares declined 0.45% on Thursday and finished down 4.6% compared to Monday’s closing level.
- Fiscal 2027 bookings forecast falls short of Wall Street’s consensus by $760 million at the midpoint.
- The next extended look at GTA VI is set for August 27.
Take-Two Interactive Software NASDAQ:TTWO ended Thursday at $241.91, slipping 0.45%. The drop occurred as U.S. Google Trends data showed a roughly 200% surge in “grand theft auto” searches. Google Trends
The stock fell 4.6% from Monday’s close, highlighting a tougher question for investors. While pre-orders for Grand Theft Auto VI are labelled unprecedented, management’s bookings forecast continues to lag behind Wall Street expectations.
Take-Two projects net bookings between $8.0 billion and $8.2 billion for fiscal 2027. The midpoint, $8.1 billion, is $760 million less than the LSEG forecast of $8.86 billion, representing a 9.4% difference compared to company guidance.
| Market measure | Reading | Comparison |
|---|---|---|
| Thursday close | $241.91 | down 0.45% |
| After hours | $242.60 | up 0.29% |
| Monday close | $253.57 | Thursday finished 4.6% below |
| 52-week high | $265.65 | Thursday ended 8.9% beneath |
| Market value | $45.23 billion | Roughly 5.6 times midpoint for bookings guidance |
Chief Executive Strauss Zelnick last week explained the decision to hold back. “We haven’t sold one unit yet,” he said, highlighting that customers are able to cancel their pre-orders. As a result, Take-Two has not increased its guidance.
Zelnick described demand as “unprecedented and astonishing.” GTA VI will launch on November 19. The previous title has sold upwards of 230 million copies since its 2013 release. Reuters
| Financial measure | Latest result or outlook | Comparison |
|---|---|---|
| Fiscal Q1 net bookings | $1.39 billion | Down 3% from the previous year |
| Fiscal Q1 net revenue | $1.53 billion | $1.50 billion reported a year ago |
| Fiscal Q1 GAAP net loss | $34.1 million | Loss was $11.9 million a year ago |
| Recurrent spending share | 84% of net bookings | Recurrent bookings declined 1% |
| Fiscal 2027 bookings guide | $8.0 billion–$8.2 billion | $760 million under the LSEG midpoint forecast |
| Current-quarter bookings guide | $1.62 billion–$1.67 billion | Short of consensus expectations |
The importance of the launch was highlighted in the first quarter. Net bookings declined by 3% to $1.39 billion. Mobile expenditure dropped, but ongoing spending for Grand Theft Auto increased by 3%.
The quarterly loss increased due to a $43.4 million impairment from a canceled title. Net revenue grew 2%, while the GAAP loss totaled $34.1 million.
Netflix NASDAQ:NFLX will offer an extended preview of GTA VI on August 27, launching the footage six hours earlier than its free release on YouTube. Zelnick described Netflix as a “great marketing partner” and supported the decision to keep the exclusive window brief. TechRadar
| GTA VI commercial marker | Verified detail | Investor relevance |
|---|---|---|
| Pre-orders began | June 25 | Described as record-breaking demand; cancellations possible |
| Standard edition | $79.99 | Introduces higher price point |
| Ultimate edition | $99.99 | Sales surpass standard edition, according to reports |
| Extended preview | August 27 | Debuts on Netflix; YouTube to follow after six hours |
| Console launch | November 19 | Available on PlayStation 5 and Xbox Series X|S |
| GTA V installed base | Over 230 million units | Represents record set by the franchise |
The console share also heightens platform exposure. GTA VI will first be available on Sony Group NYSE:SONY PlayStation 5 and Microsoft NASDAQ:MSFT Xbox Series X|S. There is no PC release date announced.
Analyst views are highly skewed. Google Finance reports that in the past three months, there have been 19 buy recommendations, with no hold or sell ratings. The mean price target of $292.71 indicates a potential 21.0% gain from Thursday’s close.
| Analyst | Firm | Recommendation | Target | Date |
|---|---|---|---|---|
| Bryan Smilek | JPMorgan | Buy | $310 | August 11 |
| Alicia Reese | Wedbush | Buy | $300 | August 10 |
| Clark Lampen | BTIG | Buy | $313 | August 10 |
| Colin Sebastian | Baird | Buy | $270 | August 10 |
| Eric Sheridan | Goldman Sachs | Buy | $285 | August 9 |
| 19-analyst consensus | Multiple firms | 19 buy, 0 hold, 0 sell | $292.71 average | Past three months |
The targets could boost Take-Two’s market capitalisation by around $9.5 billion. That figure is roughly 12.5 times greater than the $760 million bookings shortfall. As a result, investors appear to be valuing a long-term series rather than a single quarter of releases.
The stock climbed 6.04% on earnings day last week, ending the session at $246.50. While some of those gains held, Monday’s advance lost momentum. With no earnings report expected this week, focus turns to the resilience of preorders and the upcoming preview on August 27.
Risks: Any further delay, cancellations of preorders, or disappointing online monetization may impact the valuation. Sluggish mobile performance and increased development expenses reduce the margin for mistakes ahead of launch.
The surge in search activity indicates sustained interest. The shares, however, demonstrate that interest alone is insufficient. Take-Two needs to translate this engagement into bookings to bridge the $760 million shortfall in forecasts.
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