Activision Blizzard (NASDAQ:ATVI) had its target price boosted by analysts at Benchmark from $77.00 to $85.00 in a note issued to investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 11.99% from the company’s current price.
A number of other brokerages have also recently issued reports on ATVI. BMO Capital Markets lifted their price objective on Activision Blizzard from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. KeyCorp lifted their price target on shares of Activision Blizzard from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Morgan Stanley reaffirmed a “buy” rating on shares of Activision Blizzard in a research note on Wednesday, June 10th. Oppenheimer lifted their target price on shares of Activision Blizzard from $73.00 to $75.00 and gave the company an “outperformer” rating in a research note on Monday, June 8th. Finally, UBS Group boosted their target price on Activision Blizzard from $66.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $74.94.
NASDAQ:ATVI opened at $75.90 on Monday. The firm has a market capitalization of $58.17 billion, a PE ratio of 37.57, a price-to-earnings-growth ratio of 1.62 and a beta of 0.62. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.21. Activision Blizzard has a 12-month low of $44.81 and a 12-month high of $77.63. The firm has a 50-day moving average price of $73.21 and a 200 day moving average price of $63.90.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.20. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.32 billion. Activision Blizzard had a return on equity of 14.57% and a net margin of 24.21%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. On average, research analysts expect that Activision Blizzard will post 2.51 EPS for the current year.
In other Activision Blizzard news, Director Brian G. Kelly sold 250,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $72.42, for a total value of $18,105,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jesse Yang bought 500 shares of Activision Blizzard stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $73.00 per share, for a total transaction of $36,500.00. Following the acquisition, the chief accounting officer now owns 500 shares of the company’s stock, valued at approximately $36,500. The disclosure for this purchase can be found here. Insiders sold 324,000 shares of company stock worth $23,504,440 over the last 90 days. 1.13% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in ATVI. Norges Bank acquired a new stake in shares of Activision Blizzard in the 4th quarter valued at approximately $495,007,000. Massachusetts Financial Services Co. MA bought a new stake in Activision Blizzard in the first quarter valued at approximately $327,047,000. Morgan Stanley raised its holdings in Activision Blizzard by 65.3% in the first quarter. Morgan Stanley now owns 8,571,832 shares of the company’s stock worth $509,853,000 after purchasing an additional 3,385,187 shares during the period. AJO LP raised its holdings in Activision Blizzard by 587.8% in the first quarter. AJO LP now owns 2,755,286 shares of the company’s stock worth $163,883,000 after purchasing an additional 2,354,676 shares during the period. Finally, Capital International Investors boosted its position in shares of Activision Blizzard by 4.2% during the fourth quarter. Capital International Investors now owns 57,067,093 shares of the company’s stock worth $3,390,926,000 after purchasing an additional 2,324,854 shares in the last quarter. 87.16% of the stock is owned by 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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