Analysts Set Activision Blizzard, Inc. (NASDAQ:ATVI) Target Price at $59.41

Activision Blizzard, Inc. (NASDAQ:ATVI) has been given a consensus rating of “Buy” by the thirty-six brokerages that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.41.

A number of brokerages have commented on ATVI. Ascendiant Capital Markets reaffirmed a “buy” rating and set a $55.00 target price (up from $53.00) on shares of Activision Blizzard in a research note on Wednesday, August 14th. Goldman Sachs Group raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $54.00 in a research note on Tuesday, May 28th. Nomura assumed coverage on shares of Activision Blizzard in a research note on Thursday, June 6th. They issued a “neutral” rating and a $49.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Friday, August 9th. Finally, TheStreet raised shares of Activision Blizzard from a “c+” rating to a “b-” rating in a research note on Tuesday, August 13th.

In related news, insider Brian M. Stolz sold 134,845 shares of Activision Blizzard stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the transaction, the insider now owns 58,563 shares in the company, valued at $2,799,311.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher B. Walther sold 11,333 shares of Activision Blizzard stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. Insiders sold 153,844 shares of company stock valued at $7,359,670 in the last 90 days. Company insiders own 1.29% of the company’s stock.

Several hedge funds have recently made changes to their positions in ATVI. Capital Investment Advisory Services LLC grew its holdings in shares of Activision Blizzard by 189.5% in the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Activision Blizzard during the 1st quarter worth approximately $27,000. Redhawk Wealth Advisors Inc. acquired a new position in Activision Blizzard during the 2nd quarter worth approximately $29,000. Thor Advisors LLC acquired a new position in Activision Blizzard during the 1st quarter worth approximately $40,000. Finally, Kavar Capital Partners LLC acquired a new position in Activision Blizzard during the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

ATVI stock traded down $1.75 during trading on Friday, reaching $47.33. 5,776,947 shares of the stock were exchanged, compared to its average volume of 7,117,405. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $47.41 and a 200-day moving average price of $45.75. Activision Blizzard has a 1 year low of $39.85 and a 1 year high of $84.68. The firm has a market capitalization of $37.61 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.94 and a beta of 0.90.

Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, August 8th. The company reported $0.34 EPS 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 the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. Activision Blizzard’s quarterly revenue was down 12.9% compared to the same quarter last year. On average, research analysts anticipate that Activision Blizzard will post 2 EPS for the current year.

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. 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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