Activision Blizzard (ATVI) Price Target Cut to $72.00

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Activision Blizzard (NASDAQ:ATVI) had its price objective cut by Morgan Stanley from $80.00 to $72.00 in a report published on Friday morning, The Fly reports. They currently have a positive rating on the stock.

Several other brokerages also recently weighed in on ATVI. Piper Jaffray Companies reaffirmed an overweight rating and set a $88.00 target price on shares of Activision Blizzard in a research note on Wednesday, September 26th. BidaskClub downgraded shares of Activision Blizzard from a hold rating to a sell rating in a research note on Thursday. Wedbush set a $81.00 target price on shares of Activision Blizzard and gave the stock a buy rating in a research note on Thursday, July 26th. KeyCorp reaffirmed an overweight rating and set a $80.00 target price (down from $85.00) on shares of Activision Blizzard in a research note on Friday. Finally, SunTrust Banks set a $85.00 target price on shares of Activision Blizzard and gave the stock a buy rating in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $77.62.

Shares of Activision Blizzard stock traded down $7.78 on Friday, reaching $55.01. The company had a trading volume of 34,539,389 shares, compared to its average volume of 9,550,354. The company has a market capitalization of $49.63 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. Activision Blizzard has a 52-week low of $53.50 and a 52-week high of $84.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.96 and a current ratio of 2.98.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. Activision Blizzard’s revenue was down 12.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Equities analysts expect that Activision Blizzard will post 2.49 earnings per share for the current year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, the chief executive officer now directly owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.29% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board increased its position in shares of Activision Blizzard by 1,784.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 551,099 shares of the company’s stock valued at $45,846,000 after purchasing an additional 521,850 shares during the last quarter. Dean Capital Investments Management LLC acquired a new position in shares of Activision Blizzard in the 3rd quarter valued at $229,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Activision Blizzard by 13.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 471,395 shares of the company’s stock valued at $35,081,000 after buying an additional 54,591 shares in the last quarter. Bank of Hawaii acquired a new position in shares of Activision Blizzard in the 3rd quarter valued at $1,063,000. Finally, CIBC World Markets Inc. boosted its holdings in shares of Activision Blizzard by 11.6% in the 3rd quarter. CIBC World Markets Inc. now owns 55,276 shares of the company’s stock valued at $4,598,000 after buying an additional 5,737 shares in the last quarter. 86.92% of the stock is currently owned by 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. 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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The Fly

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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