Activision Blizzard (NASDAQ:ATVI) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, March 15th. The brokerage currently has a $83.78 target price on the stock. Vetr‘s price target suggests a potential upside of 29.77% from the stock’s current price.
Several other equities analysts have also issued reports on the company. SunTrust Banks set a $77.00 price target on Activision Blizzard and gave the company a “buy” rating in a research note on Wednesday, January 24th. Goldman Sachs raised Activision Blizzard from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, January 2nd. Argus boosted their price target on Activision Blizzard from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, KeyCorp set a $83.00 target price on Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $75.03.
ATVI traded down $1.97 during trading on Thursday, hitting $64.56. The company’s stock had a trading volume of 4,599,116 shares, compared to its average volume of 7,129,307. Activision Blizzard has a twelve month low of $48.41 and a twelve month high of $79.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78. The firm has a market cap of $48,977.28, a PE ratio of 31.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. research analysts predict that Activision Blizzard will post 2.52 EPS for the current fiscal year.
In related news, Director Brian G. Kelly sold 1,700,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $70.65, for a total transaction of $120,105,000.00. Following the completion of the sale, the director now owns 69,474 shares in the company, valued at $4,908,338.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert J. Corti sold 88,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $69.88, for a total value of $6,149,440.00. Following the sale, the director now owns 129,562 shares of the company’s stock, valued at approximately $9,053,792.56. The disclosure for this sale can be found here. Insiders have sold 2,701,258 shares of company stock valued at $191,727,094 in the last quarter. 2.12% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new position in Activision Blizzard in the 4th quarter valued at $125,000. Goodman Financial Corp bought a new position in Activision Blizzard in the 4th quarter valued at $127,000. Grove Bank & Trust grew its stake in Activision Blizzard by 261.7% in the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after purchasing an additional 1,570 shares during the period. James Hambro & Partners bought a new position in Activision Blizzard in the 4th quarter valued at $184,000. Finally, Exane Derivatives grew its stake in Activision Blizzard by 15,900.0% in the 4th quarter. Exane Derivatives now owns 3,040 shares of the company’s stock valued at $192,000 after purchasing an additional 3,021 shares during the period. Hedge funds and other institutional investors own 85.57% of the company’s stock.
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About Activision Blizzard
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
To view Vetr’s full report, visit Vetr’s official website.
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