Activision Blizzard (NASDAQ:ATVI) had its target price decreased by investment analysts at KeyCorp from $90.00 to $85.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 22.62% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Needham & Company LLC increased their price objective on shares of Activision Blizzard from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Wednesday, July 4th. Finally, Argus restated a “buy” rating and set a $90.00 price objective (up from $81.00) on shares of Activision Blizzard in a research note on Friday, September 21st. Ten investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $81.53.
Activision Blizzard stock opened at $69.32 on Wednesday. Activision Blizzard has a one year low of $57.29 and a one year high of $84.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. The stock has a market cap of $51.45 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.86.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.11. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $0.32 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts expect that Activision Blizzard will post 2.49 earnings per share for the current fiscal year.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the completion of the sale, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $1,396,258.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.29% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Asset Advisors Investment Management LLC acquired a new stake in Activision Blizzard during the third quarter worth approximately $100,000. Ashburton Jersey Ltd acquired a new stake in Activision Blizzard during the second quarter worth approximately $107,000. Quad Cities Investment Group LLC acquired a new stake in Activision Blizzard during the second quarter worth approximately $114,000. NuWave Investment Management LLC acquired a new stake in Activision Blizzard during the second quarter worth approximately $121,000. Finally, Kaizen Advisory LLC lifted its position in Activision Blizzard by 155.2% during the second quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock worth $143,000 after acquiring an additional 1,141 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.
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.
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