Activision Blizzard (NASDAQ:ATVI)‘s stock had its “buy” rating reiterated by Credit Suisse Group in a research report issued on Monday, February 4th. They presently have a $70.00 price target on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 63.40% from the stock’s current price.
ATVI has been the topic of a number of other research reports. BidaskClub downgraded Activision Blizzard from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Deutsche Bank started coverage on Activision Blizzard in a report on Tuesday, January 22nd. They set a “hold” rating and a $54.00 target price on the stock. Oppenheimer reduced their target price on Activision Blizzard from $87.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, November 9th. KeyCorp reiterated an “overweight” rating and set a $80.00 price target (down from $85.00) on shares of Activision Blizzard in a research report on Friday, November 9th. Finally, SunTrust Banks set a $65.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research report on Thursday, November 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Activision Blizzard presently has an average rating of “Buy” and an average price target of $63.46.
Shares of NASDAQ ATVI traded up $0.70 on Monday, hitting $42.84. The company had a trading volume of 9,378,224 shares, compared to its average volume of 18,685,132. The company has a market capitalization of $31.67 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.98 and a beta of 0.92. Activision Blizzard has a 12-month low of $39.85 and a 12-month high of $84.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.31 and a quick ratio of 2.29.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Tuesday, February 12th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.04 billion. Activision Blizzard had a return on equity of 17.55% and a net margin of 24.16%. Activision Blizzard’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.94 earnings per share. Research analysts expect that Activision Blizzard will post 1.98 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of ATVI. First National Bank of Hutchinson increased its position in shares of Activision Blizzard by 2.2% during the 4th quarter. First National Bank of Hutchinson now owns 10,979 shares of the company’s stock valued at $511,000 after purchasing an additional 240 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Activision Blizzard by 1.2% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,179 shares of the company’s stock valued at $1,033,000 after purchasing an additional 260 shares during the period. Cornerstone Advisors Inc. increased its position in shares of Activision Blizzard by 17.5% during the 4th quarter. Cornerstone Advisors Inc. now owns 1,775 shares of the company’s stock valued at $83,000 after purchasing an additional 265 shares during the period. Kaizen Advisory LLC increased its position in shares of Activision Blizzard by 15.3% during the 4th quarter. Kaizen Advisory LLC now owns 2,163 shares of the company’s stock valued at $101,000 after purchasing an additional 287 shares during the period. Finally, Sigma Planning Corp increased its position in shares of Activision Blizzard by 7.2% during the 4th quarter. Sigma Planning Corp now owns 4,802 shares of the company’s stock valued at $224,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 88.05% 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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