Activision Blizzard (NASDAQ:ATVI) Given New $65.00 Price Target at Stifel Nicolaus

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Activision Blizzard (NASDAQ:ATVI) had its price objective upped by investment analysts at Stifel Nicolaus from $57.00 to $65.00 in a report issued on Monday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 16.01% from the stock’s current price.

A number of other research analysts also recently commented on the stock. ValuEngine raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Stephens raised shares of Activision Blizzard from an “equal” rating to a “weight” rating and boosted their price target for the company from $52.00 to $65.00 in a research report on Thursday, September 5th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Activision Blizzard in a research report on Friday, August 9th. BidaskClub upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $57.00 price objective (up previously from $55.00) on shares of Activision Blizzard in a report on Friday, August 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Activision Blizzard presently has an average rating of “Buy” and an average target price of $61.06.

Shares of ATVI opened at $56.03 on Monday. The stock has a 50 day moving average price of $49.16 and a 200 day moving average price of $46.44. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $41.86 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.16 and a beta of 0.88. Activision Blizzard has a 52-week low of $39.85 and a 52-week high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that Activision Blizzard will post 2 EPS for the current fiscal year.

In related news, insider Christopher B. Walther sold 11,333 shares of Activision Blizzard stock in a transaction on Monday, July 1st. The shares were sold at an average price of $47.91, for a total value of $542,964.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the transaction, the insider now directly owns 58,563 shares in the company, valued at $2,799,311.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,844 shares of company stock valued at $7,528,095. 1.31% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Activision Blizzard by 6.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 271,487 shares of the company’s stock worth $12,814,000 after acquiring an additional 17,392 shares during the period. Harvey Partners LLC lifted its position in Activision Blizzard by 4.7% in the second quarter. Harvey Partners LLC now owns 45,000 shares of the company’s stock valued at $2,124,000 after purchasing an additional 2,000 shares during the period. Boston Partners lifted its position in Activision Blizzard by 137.6% in the second quarter. Boston Partners now owns 3,710,600 shares of the company’s stock valued at $175,148,000 after purchasing an additional 2,148,773 shares during the period. Toronto Dominion Bank boosted its holdings in Activision Blizzard by 9.7% in the 2nd quarter. Toronto Dominion Bank now owns 684,078 shares of the company’s stock valued at $32,282,000 after purchasing an additional 60,720 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Activision Blizzard by 0.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 485,882 shares of the company’s stock valued at $22,934,000 after purchasing an additional 3,740 shares in the last quarter. Institutional investors own 87.07% 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. 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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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