Activision Blizzard (ATVI) Given a $81.00 Price Target at Wedbush

Activision Blizzard (NASDAQ:ATVI) received a $81.00 price objective from stock analysts at Wedbush in a report issued on Friday. The firm currently has a “buy” rating on the stock. Wedbush’s price target would suggest a potential upside of 29.00% from the stock’s previous close.

Several other research firms have also recently weighed in on ATVI. BidaskClub raised Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. Argus reissued a “buy” rating and issued a $90.00 price objective (up from $81.00) on shares of Activision Blizzard in a research report on Friday, September 21st. Piper Jaffray Companies reissued an “overweight” rating and issued a $88.00 price objective on shares of Activision Blizzard in a research report on Wednesday, September 26th. Robert W. Baird increased their price objective on Activision Blizzard from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 13th. Finally, Berenberg Bank assumed coverage on Activision Blizzard in a research report on Friday, October 5th. They issued a “hold” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard has an average rating of “Buy” and an average price target of $81.61.

ATVI opened at $62.79 on Friday. Activision Blizzard has a 1-year low of $57.29 and a 1-year high of $84.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.98 and a quick ratio of 2.96. The company has a market capitalization of $48.98 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.18). Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The firm’s revenue was down 12.6% compared to the same quarter last year. As a group, sell-side 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 stock in a transaction on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the transaction, 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 is accessible through this hyperlink. 1.29% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Asset Advisors Investment Management LLC acquired a new position in Activision Blizzard during the third quarter worth $100,000. Ashburton Jersey Ltd acquired a new stake in shares of Activision Blizzard in the second quarter valued at $107,000. Quad Cities Investment Group LLC acquired a new stake in shares of Activision Blizzard in the second quarter valued at $114,000. NuWave Investment Management LLC acquired a new stake in shares of Activision Blizzard in the second quarter valued at $121,000. Finally, Psagot Investment House Ltd. acquired a new stake in shares of Activision Blizzard in the third quarter valued at $135,000. Hedge funds and other 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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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