Activision Blizzard (NASDAQ:ATVI) had its target price lifted by Robert W. Baird from $75.00 to $80.00 in a research note issued to investors on Friday morning. The firm currently has an outperform rating on the stock.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Activision Blizzard from a hold rating to a strong-buy rating and set a $71.00 target price on the stock in a research report on Friday, October 27th. Vetr lowered shares of Activision Blizzard from a buy rating to a hold rating and set a $59.97 target price on the stock. in a research report on Monday, October 23rd. Wedbush set a $75.00 target price on shares of Activision Blizzard and gave the stock a buy rating in a research report on Thursday, October 26th. Goldman Sachs Group upgraded shares of Activision Blizzard from a neutral rating to a buy rating in a research report on Tuesday, December 12th. Finally, UBS Group increased their target price on shares of Activision Blizzard from $72.00 to $75.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Six research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Activision Blizzard presently has an average rating of Buy and an average price target of $71.75.
Activision Blizzard (NASDAQ:ATVI) opened at $68.32 on Friday. Activision Blizzard has a 52-week low of $44.47 and a 52-week high of $74.94. The stock has a market cap of $51,660.00, a P/E ratio of 195.20, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.46.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.48%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. sell-side analysts expect that Activision Blizzard will post 2.48 earnings per share for the current year.
In related news, CEO of King Digital Entertainment Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the transaction, the insider now owns 41,435 shares of the company’s stock, valued at approximately $2,636,923.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.12% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of ATVI. Cornerstone Advisors Inc. raised its stake in shares of Activision Blizzard by 321.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after acquiring an additional 1,180 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Activision Blizzard during the fourth quarter valued at $125,000. Goodman Financial Corp bought a new position in shares of Activision Blizzard during the fourth quarter valued at $127,000. Grove Bank & Trust raised its stake in shares of Activision Blizzard by 261.7% during the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after acquiring an additional 1,570 shares during the last quarter. Finally, Phocas Financial Corp. bought a new position in shares of Activision Blizzard during the second quarter valued at $173,000. 85.61% of the stock is owned by institutional investors and hedge funds.
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Activision Blizzard Company Profile
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.
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