Activision Blizzard (ATVI) Given a $83.00 Price Target at KeyCorp

KeyCorp set a $83.00 target price on Activision Blizzard (NASDAQ:ATVI) in a research note published on Wednesday morning. The firm currently has a buy rating on the stock. KeyCorp also issued estimates for Activision Blizzard’s Q1 2018 earnings at $0.31 EPS, Q2 2018 earnings at $0.33 EPS, FY2018 earnings at $2.61 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.56 EPS and FY2019 earnings at $3.11 EPS.

A number of other equities research analysts have also weighed in on ATVI. Sanford C. Bernstein started coverage on Activision Blizzard in a research note on Thursday, January 18th. They issued a market perform rating and a $74.00 target price for the company. Vetr raised Activision Blizzard from a sell rating to a hold rating and set a $74.33 target price for the company in a research note on Tuesday, January 30th. Wedbush set a $81.00 target price on Activision Blizzard and gave the company a buy rating in a research note on Friday, February 9th. Zacks Investment Research raised Activision Blizzard from a hold rating to a buy rating and set a $86.00 target price for the company in a research note on Tuesday, March 13th. Finally, Credit Suisse Group boosted their target price on Activision Blizzard from $81.00 to $83.00 and gave the company an outperform rating in a research note on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Activision Blizzard currently has an average rating of Buy and an average price target of $75.03.

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ATVI opened at $64.56 on Wednesday. Activision Blizzard has a 12-month low of $48.41 and a 12-month 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 stock has a market capitalization of $50,471.76, a PE ratio of 29.97, a PEG ratio of 1.81 and a beta of 1.16.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.55 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. equities research analysts expect that Activision Blizzard will post 2.52 EPS for the current year.

In other Activision Blizzard news, insider Dennis M. Durkin sold 71,488 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $75.65, for a total transaction of $5,408,067.20. Following the transaction, the insider now owns 151,314 shares in the company, valued at approximately $11,446,904.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dennis M. Durkin sold 21,488 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $77.18, for a total value of $1,658,443.84. Following the transaction, the insider now owns 151,314 shares in the company, valued at approximately $11,678,414.52. The disclosure for this sale can be found here. Insiders have sold a total of 2,701,258 shares of company stock valued at $191,727,094 in the last ninety days. 2.12% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ATVI. Eagle Asset Management Inc. purchased a new position in shares of Activision Blizzard during the 3rd quarter worth approximately $209,000. Dimensional Fund Advisors LP grew its holdings in shares of Activision Blizzard by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,708,054 shares of the company’s stock worth $174,685,000 after acquiring an additional 49,505 shares during the period. Stifel Financial Corp grew its holdings in shares of Activision Blizzard by 18.3% during the 3rd quarter. Stifel Financial Corp now owns 256,780 shares of the company’s stock worth $16,553,000 after acquiring an additional 39,733 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Activision Blizzard during the 3rd quarter worth approximately $9,849,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Activision Blizzard by 4.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 98,374 shares of the company’s stock worth $6,346,000 after acquiring an additional 3,799 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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