Take-Two's GTA VI pre-orders boost outlook despite Q1 dips, Wedbush keeps outperform rating.

Take-Two Interactive reported a slight year-over-year decline in Q1 net bookings but beat earnings expectations, driven by strong console game sales. Wedbush maintained an 'Outperform' rating and $300 price target, citing exceptional GTA VI pre-orders and a growing recurring revenue base as key growth drivers. The company expects GTA VI to lead fiscal 2027 growth, with mobile and subscription services supporting later years. Despite a cautious Q2 bookings forecast, Wedbush sees potential upside from GTA VI demand and improved mobile monetization strategies.