Activision Blizzard (ATVI) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a sell rating to a hold rating in a research note published on Thursday morning.

Other analysts also recently issued research reports about the stock. Barclays raised shares of Activision Blizzard from an equal weight rating to an overweight rating and upped their price target for the stock from $79.00 to $86.00 in a report on Monday, October 15th. ValuEngine downgraded shares of Activision Blizzard from a buy rating to a hold rating in a report on Tuesday, October 30th. Needham & Company LLC reaffirmed a buy rating and set a $60.00 price target (down previously from $90.00) on shares of Activision Blizzard in a report on Friday, December 14th. Stifel Nicolaus cut their price target on shares of Activision Blizzard from $82.00 to $78.00 and set a buy rating for the company in a report on Wednesday, October 31st. Finally, CIBC cut their price target on shares of Activision Blizzard from $87.00 to $68.00 and set an outperform rating for the company in a report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $70.76.

NASDAQ ATVI traded down $4.81 during trading on Thursday, reaching $46.54. The company’s stock had a trading volume of 35,421,837 shares, compared to its average volume of 11,967,760. The company has a quick ratio of 2.01, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $38.79 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.42 and a beta of 1.02. Activision Blizzard has a 12 month low of $43.71 and a 12 month high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities analysts expect that Activision Blizzard will post 2.35 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of ATVI. Financial Enhancement Group LLC bought a new position in Activision Blizzard during the third quarter worth $575,000. Capital International Investors boosted its stake in Activision Blizzard by 233.8% during the third quarter. Capital International Investors now owns 9,072,649 shares of the company’s stock worth $754,754,000 after acquiring an additional 6,354,412 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Activision Blizzard by 10.2% during the third quarter. Riverhead Capital Management LLC now owns 12,599 shares of the company’s stock worth $1,048,000 after acquiring an additional 1,168 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in Activision Blizzard by 40.4% during the third quarter. Iridian Asset Management LLC CT now owns 2,792,379 shares of the company’s stock worth $232,298,000 after acquiring an additional 803,888 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Activision Blizzard by 2.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 719,206 shares of the company’s stock worth $59,830,000 after acquiring an additional 16,360 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

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. 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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