Brokerages Set Activision Blizzard, Inc. (ATVI) Target Price at $78.95

Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) have been assigned a consensus recommendation of “Buy” from the twenty-nine analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $78.58.

Several research firms have weighed in on ATVI. BidaskClub cut shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays lowered their price objective on shares of Activision Blizzard from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Sunday, August 5th. Wedbush set a $85.00 price objective on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Needham & Company LLC lifted their price objective on shares of Activision Blizzard from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st.

Shares of NASDAQ ATVI traded up $0.11 during trading on Tuesday, hitting $70.61. The company had a trading volume of 4,608,728 shares, compared to its average volume of 6,112,773. The stock has a market capitalization of $53.75 billion, a P/E ratio of 34.44, a P/E/G ratio of 1.86 and a beta of 0.97. Activision Blizzard has a 52 week low of $57.29 and a 52 week high of $81.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98.



Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. research analysts forecast that Activision Blizzard will post 2.49 earnings per share for the current year.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $70.49, for a total transaction of $1,392,952.89. Following the transaction, the chief executive officer now directly owns 27,361 shares in the company, valued at approximately $1,928,676.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.29% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Altman Advisors Inc. acquired a new position in shares of Activision Blizzard during the second quarter valued at about $323,000. Quad Cities Investment Group LLC acquired a new position in shares of Activision Blizzard during the second quarter valued at about $114,000. NuWave Investment Management LLC acquired a new position in shares of Activision Blizzard during the second quarter valued at about $121,000. Signaturefd LLC acquired a new position in shares of Activision Blizzard during the first quarter valued at about $114,000. Finally, Kaizen Advisory LLC raised its position in shares of Activision Blizzard by 155.2% during the second quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock valued at $143,000 after buying an additional 1,141 shares during the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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