Why Take-Two Interactive Software (TTWO) Went Up On Friday?

We recently published a list of 10 Firms Post Double-Digit Gains on Friday. In this article, we are going to take a look at where Take-Two Interactive Software, Inc. (NASDAQ:TTWO) stands against other firms that posted double-digit gains on Friday.

The stock market fell into the red territory on Friday, with all major indices recording losses over renewed fears of growing trade tensions coupled with expectations of a higher inflation rate in the US.

The Dow Jones lost 0.99 percent, the S&P 500 declined 0.95 percent, while the tech-heavy Nasdaq dived by 1.36 percent.

Despite the overall pessimistic sentiment, 10 companies managed to defy losses, posting double-digit gains in their valuations amid a flurry of impressive earnings performance.

To come up with Friday’s top winners, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of a hand holding a game controller, demonstrating the interactive entertainment of the company.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) jumped by 14 percent on Friday after achieving an improvement in its earnings performance in full-year 2024 coupled with an upgraded rating from an investment research company.

In a regulatory filing, Take-Two Interactive Software (NASDAQ:TTWO) said it was able to slash its net loss in nine months ending December 2024 by 10.5 percent to $757.2 million from the $841.2 million registered in the same period a year earlier.

However, the past quarter saw a 36.7-percent net loss expansion at $125.2 million versus the $91.6 million year-on-year.

Net revenues in the nine-month period increased by 7 percent to $3.69 billion from $3.43 billion and inched up by 2 percent to $1.24 billion from $1.21 billion in the fourth quarter.

Meanwhile, Take-Two (NASDAQ:TTWO) maintained a positive outlook from TD Cowen, with the latter reiterating its “buy” rating and a price target of $211.

Overall, TTWO ranks 9th on our list of firms that posted double-digit gains on Friday. While we acknowledge the potential of TTWO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TTWO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.