Activision Blizzard (ATVI) Receives $75.14 Average Price Target from Brokerages

Activision Blizzard (NASDAQ:ATVI) has been assigned an average recommendation of “Buy” from the thirty-three ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $74.72.

A number of equities analysts have recently commented on ATVI shares. Goldman Sachs raised Activision Blizzard from a “neutral” rating to a “buy” rating in a report on Tuesday, December 12th. Vetr lowered Activision Blizzard from a “hold” rating to a “sell” rating and set a $62.29 price target for the company. in a report on Tuesday, December 12th. BTIG Research started coverage on Activision Blizzard in a report on Monday, December 18th. They issued a “buy” rating and a $80.00 price target for the company. BidaskClub upgraded Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Finally, Zacks Investment Research downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th.

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Activision Blizzard stock opened at $64.56 on Wednesday. Activision Blizzard has a one year low of $48.41 and a one year high of $79.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.78 and a quick ratio of 1.77. The firm has a market capitalization of $50,471.76, a PE ratio of 29.97, a P/E/G ratio of 1.81 and a beta of 1.16.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts anticipate that Activision Blizzard will post 2.52 EPS for the current fiscal year.

In other Activision Blizzard news, insider Stephen G. Wereb sold 120,521 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $72.38, for a total transaction of $8,723,309.98. Following the sale, the insider now owns 48,511 shares in the company, valued at $3,511,226.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis M. Durkin sold 71,488 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $75.65, for a total value of $5,408,067.20. Following the sale, the insider now owns 151,314 shares in the company, valued at approximately $11,446,904.10. The disclosure for this sale can be found here. Insiders have sold 2,701,258 shares of company stock worth $191,727,094 in the last 90 days. Company insiders own 2.12% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATVI. Eagle Asset Management Inc. purchased a new position in shares of Activision Blizzard in the third quarter worth about $209,000. Dimensional Fund Advisors LP increased its holdings in shares of Activision Blizzard by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,708,054 shares of the company’s stock worth $174,685,000 after buying an additional 49,505 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Activision Blizzard in the third quarter worth about $323,000. Stifel Financial Corp increased its holdings in shares of Activision Blizzard by 18.3% in the third quarter. Stifel Financial Corp now owns 256,780 shares of the company’s stock worth $16,553,000 after buying an additional 39,733 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in shares of Activision Blizzard by 63.1% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 8,141 shares of the company’s stock worth $525,000 after buying an additional 3,150 shares during the period. Hedge funds and other institutional investors own 85.57% of the company’s stock.

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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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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