Activision Blizzard (NASDAQ:ATVI) PT Raised to $105.00 at Jefferies Financial Group

Activision Blizzard (NASDAQ:ATVI) had its price objective upped by Jefferies Financial Group from $102.00 to $105.00 in a report issued on Thursday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the stock. Jefferies Financial Group also issued estimates for Activision Blizzard’s Q3 2020 earnings at $0.65 EPS, FY2020 earnings at $3.15 EPS, FY2021 earnings at $3.36 EPS and FY2022 earnings at $3.83 EPS.

Other equities research analysts have also recently issued research reports about the company. Barclays lifted their price target on Activision Blizzard from $90.00 to $98.00 in a report on Wednesday, August 5th. Morgan Stanley lifted their price target on Activision Blizzard from $88.00 to $100.00 and gave the company an overweight rating in a report on Wednesday, August 5th. Robert W. Baird lifted their price target on Activision Blizzard from $82.00 to $100.00 in a report on Wednesday, August 5th. Wells Fargo & Company reaffirmed a buy rating on shares of Activision Blizzard in a report on Wednesday, August 5th. Finally, BidaskClub cut Activision Blizzard from a strong-buy rating to a buy rating in a report on Wednesday, August 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $85.84.

Shares of ATVI stock opened at $80.09 on Thursday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $81.69 and a two-hundred day moving average of $72.19. Activision Blizzard has a 52 week low of $50.25 and a 52 week high of $87.73. The company has a market cap of $61.82 billion, a P/E ratio of 34.23, a PEG ratio of 1.54 and a beta of 0.68.

Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Tuesday, August 4th. The company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.30. Activision Blizzard had a return on equity of 17.66% and a net margin of 25.96%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.69 billion. Analysts expect that Activision Blizzard will post 3 EPS for the current fiscal year.

In other Activision Blizzard news, CFO Dennis M. Durkin sold 50,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $83.51, for a total transaction of $4,175,500.00. Following the completion of the transaction, the chief financial officer now owns 442,096 shares of the company’s stock, valued at approximately $36,919,436.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Claudine Macartney sold 12,902 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $86.06, for a total transaction of $1,110,346.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,904 shares of company stock valued at $5,286,012. 1.29% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. acquired a new position in Activision Blizzard during the 1st quarter worth $5,735,000. Stanley Laman Group Ltd. lifted its position in Activision Blizzard by 7.4% during the 2nd quarter. Stanley Laman Group Ltd. now owns 13,659 shares of the company’s stock worth $1,037,000 after acquiring an additional 939 shares during the last quarter. Gofen & Glossberg LLC IL lifted its position in Activision Blizzard by 10.0% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 104,000 shares of the company’s stock worth $7,894,000 after acquiring an additional 9,426 shares during the last quarter. Kentucky Retirement Systems acquired a new position in Activision Blizzard during the 2nd quarter worth $3,256,000. Finally, Stratos Wealth Partners LTD. lifted its position in Activision Blizzard by 35.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 5,950 shares of the company’s stock worth $452,000 after acquiring an additional 1,566 shares during the last quarter. 86.12% of the stock is owned by hedge funds and other 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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