Activision Blizzard (ATVI) Given a $75.00 Price Target by Wedbush Analysts

Wedbush set a $75.00 price objective on Activision Blizzard (NASDAQ:ATVI) in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the stock.

ATVI has been the subject of several other reports. Vetr raised Activision Blizzard from a hold rating to a buy rating and set a $64.58 target price for the company in a report on Tuesday, October 10th. Zacks Investment Research raised Activision Blizzard from a hold rating to a strong-buy rating and set a $71.00 target price for the company in a report on Friday, October 27th. Cowen downgraded Activision Blizzard from an outperform rating to a market perform rating and set a $66.00 target price for the company. in a report on Monday, October 9th. UBS Group boosted their target price on Activision Blizzard from $72.00 to $75.00 and gave the company a buy rating in a report on Friday, November 3rd. Finally, KeyCorp reissued a buy rating and issued a $74.00 target price on shares of Activision Blizzard in a report on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $69.91.

Shares of Activision Blizzard (ATVI) opened at $70.36 on Thursday. Activision Blizzard has a fifty-two week low of $38.38 and a fifty-two week high of $70.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. The firm has a market capitalization of $53,199.16, a PE ratio of 48.19, a PEG ratio of 2.06 and a beta of 1.02.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, November 2nd. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.11. Activision Blizzard had a return on equity of 17.56% and a net margin of 15.90%. analysts anticipate that Activision Blizzard will post 2.1 earnings per share for the current fiscal year.

In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the sale, the chief executive officer now owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATVI. Cornerstone Advisors Inc. grew its holdings in shares of Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after acquiring an additional 1,180 shares during the period. Grove Bank & Trust grew its holdings in shares of Activision Blizzard by 261.7% in the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after acquiring an additional 1,570 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $173,000. BB&T Investment Services Inc. acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $189,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Activision Blizzard in the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 86.49% of the company’s stock.

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About Activision Blizzard

Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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