Activision Blizzard (NASDAQ:ATVI) Stock Rating Upgraded by BidaskClub

Activision Blizzard (NASDAQ:ATVI) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday, BidAskClub reports.

ATVI has been the topic of several other research reports. Credit Suisse Group increased their price objective on shares of Activision Blizzard from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 31st. UBS Group reiterated a “buy” rating and issued a $66.00 price objective (up previously from $56.00) on shares of Activision Blizzard in a research note on Wednesday, November 13th. Wedbush increased their price objective on shares of Activision Blizzard from $69.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Robert W. Baird reiterated a “buy” rating and issued a $61.00 price objective on shares of Activision Blizzard in a research note on Friday, February 7th. Finally, Piper Sandler increased their price objective on shares of Activision Blizzard from $62.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard presently has a consensus rating of “Buy” and a consensus target price of $64.40.

Shares of NASDAQ:ATVI opened at $63.52 on Friday. The firm’s 50 day moving average price is $59.88 and its 200-day moving average price is $54.97. Activision Blizzard has a twelve month low of $40.89 and a twelve month high of $63.54. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $47.35 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.30 and a beta of 0.87.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. Activision Blizzard had a net margin of 23.18% and a return on equity of 13.16%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the business earned $0.84 EPS. The business’s quarterly revenue was down 4.5% on a year-over-year basis. Analysts expect that Activision Blizzard will post 2.21 earnings per share for the current fiscal year.

In related news, Director Robert J. Morgado sold 32,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.24, for a total value of $1,991,680.00. Following the completion of the sale, the director now directly owns 85,161 shares of the company’s stock, valued at approximately $5,300,420.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.31% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in Activision Blizzard by 26.7% during the 4th quarter. FMR LLC now owns 68,156,488 shares of the company’s stock valued at $4,049,858,000 after buying an additional 14,371,236 shares in the last quarter. BlackRock Inc. grew its holdings in Activision Blizzard by 3.4% during the 2nd quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock valued at $2,285,699,000 after buying an additional 1,613,122 shares in the last quarter. State Street Corp grew its holdings in Activision Blizzard by 1.1% during the 4th quarter. State Street Corp now owns 33,329,470 shares of the company’s stock valued at $1,980,437,000 after buying an additional 367,164 shares in the last quarter. Boston Partners grew its holdings in Activision Blizzard by 12.2% during the 4th quarter. Boston Partners now owns 5,405,535 shares of the company’s stock valued at $321,183,000 after buying an additional 587,937 shares in the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt grew its holdings in Activision Blizzard by 4.0% during the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,150,000 shares of the company’s stock valued at $272,486,000 after buying an additional 200,000 shares in the last quarter. 88.65% of the stock is owned by institutional investors and hedge funds.

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. 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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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