Activision Blizzard (NASDAQ:ATVI) had its target price upped by Nomura from $64.00 to $70.00 in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Nomura’s target price would indicate a potential upside of 16.90% from the company’s current price.
Several other analysts have also issued reports on ATVI. Morgan Stanley upped their price objective on Activision Blizzard from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. ValuEngine lowered Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Credit Suisse Group increased their target price on Activision Blizzard from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. Barclays set a $63.00 target price on Activision Blizzard and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, UBS Group restated a “buy” rating and set a $66.00 price objective (up previously from $56.00) on shares of Activision Blizzard in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.96.
NASDAQ ATVI traded up $0.24 during trading hours on Tuesday, hitting $59.88. 1,238,928 shares of the company traded hands, compared to its average volume of 4,336,178. The business’s 50-day moving average is $57.83 and its 200-day moving average is $53.03. Activision Blizzard has a twelve month low of $39.85 and a twelve month high of $60.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.38 and a current ratio of 3.43. The stock has a market capitalization of $46.13 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.98 and a beta of 0.83.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Activision Blizzard had a return on equity of 13.91% and a net margin of 23.66%. The business’s quarterly revenue was down 27.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. Analysts predict that Activision Blizzard will post 2.02 EPS for the current year.
In related news, COO Collister Johnson sold 3,800 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $52.43, for a total transaction of $199,234.00. Following the sale, the chief operating officer now owns 280,983 shares of the company’s stock, valued at approximately $14,731,938.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.29% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ATVI. Nuveen Asset Management LLC acquired a new position in Activision Blizzard during the 2nd quarter worth about $422,191,000. Viking Global Investors LP raised its position in shares of Activision Blizzard by 61.1% in the 2nd quarter. Viking Global Investors LP now owns 7,908,859 shares of the company’s stock worth $373,298,000 after acquiring an additional 2,999,492 shares in the last quarter. Boston Partners raised its position in shares of Activision Blizzard by 137.6% in the 2nd quarter. Boston Partners now owns 3,710,600 shares of the company’s stock worth $175,148,000 after acquiring an additional 2,148,773 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Activision Blizzard by 175.6% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 2,832,896 shares of the company’s stock worth $800,585,000 after acquiring an additional 1,805,029 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Activision Blizzard by 3.4% in the 2nd quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock worth $2,285,699,000 after acquiring an additional 1,613,122 shares in the last quarter. 88.55% of the stock is currently owned by hedge funds and other institutional investors.
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. It 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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