Barclays set a $78.00 price objective on Activision Blizzard (NASDAQ:ATVI) in a research note released on Friday. The brokerage currently has a buy rating on the stock.
Other equities analysts also recently issued reports about the stock. Needham & Company LLC upped their price target 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 report on Thursday, July 26th. BidaskClub cut shares of Activision Blizzard from a strong-buy rating to a buy rating in a report on Wednesday, July 25th. Argus reiterated a buy rating and issued a $90.00 price objective (up from $81.00) on shares of Activision Blizzard in a report on Friday, September 21st. Finally, BTIG Research upped their price objective on shares of Activision Blizzard from $80.00 to $88.00 and gave the stock a buy rating in a report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $77.62.
Shares of NASDAQ ATVI traded down $7.78 during mid-day trading on Friday, reaching $55.01. The company had a trading volume of 34,539,389 shares, compared to its average volume of 9,550,354. Activision Blizzard has a twelve month low of $53.50 and a twelve month high of $84.68. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $49.63 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company posted $0.25 earnings per share. The company’s revenue was down 12.6% compared to the same quarter last year. As a group, analysts predict that Activision Blizzard will post 2.49 EPS for the current year.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $68.70, for a total transaction 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 $1,396,258.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.29% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ATVI. Asset Advisors Investment Management LLC bought a new stake in Activision Blizzard during the third quarter valued at about $100,000. Ashburton Jersey Ltd bought a new stake in shares of Activision Blizzard in the second quarter valued at about $107,000. Quad Cities Investment Group LLC bought a new stake in shares of Activision Blizzard in the second quarter valued at about $114,000. NuWave Investment Management LLC bought a new stake in shares of Activision Blizzard in the second quarter valued at about $121,000. Finally, Psagot Investment House Ltd. bought a new stake in shares of Activision Blizzard in the third quarter valued at about $135,000. Institutional investors own 86.92% of the company’s stock.
Activision Blizzard Company Profile
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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