Activision Blizzard, Inc. (ATVI) Receives $76.79 Consensus Target Price from Analysts

Activision Blizzard, Inc. (NASDAQ:ATVI) has earned an average rating of “Buy” from the twenty-nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $76.70.

Several research firms have recently commented on ATVI. Zacks Investment Research lowered shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. TheStreet downgraded shares of Activision Blizzard from a “b” rating to a “c+” rating in a research note on Thursday, November 8th. Morgan Stanley decreased their price target on shares of Activision Blizzard from $80.00 to $72.00 and set a “positive” rating for the company in a research note on Friday, November 9th. Finally, ValuEngine downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th.

Shares of NASDAQ ATVI traded up $1.59 during midday trading on Thursday, hitting $50.85. The company’s stock had a trading volume of 10,156,725 shares, compared to its average volume of 11,688,973. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.01 and a current ratio of 2.09. Activision Blizzard has a 1 year low of $46.83 and a 1 year high of $84.68. The firm has a market cap of $37.59 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 1.45 and a beta of 1.11.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the business posted $0.25 EPS. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities analysts predict that Activision Blizzard will post 2.36 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Altman Advisors Inc. acquired a new stake in Activision Blizzard during the second quarter worth approximately $323,000. Asset Advisors Investment Management LLC acquired a new position in shares of Activision Blizzard in the 3rd quarter valued at $100,000. Ashburton Jersey Ltd acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $107,000. Quad Cities Investment Group LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $114,000. Finally, NuWave Investment Management LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $121,000. 87.83% of the stock is currently 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. 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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