Analysts Set Activision Blizzard, Inc. (ATVI) Target Price at $81.94

Activision Blizzard, Inc. (NASDAQ:ATVI) has been given an average rating of “Buy” by the twenty-eight brokerages that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $81.94.

Several equities research analysts recently weighed in on the company. SunTrust Banks set a $85.00 target price on Activision Blizzard and gave the stock a “buy” rating in a report on Wednesday, October 17th. BTIG Research boosted their target price on Activision Blizzard from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 16th. Barclays upgraded Activision Blizzard from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $79.00 to $86.00 in a report on Monday, October 15th. BidaskClub lowered Activision Blizzard from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Berenberg Bank assumed coverage on Activision Blizzard in a report on Friday, October 5th. They issued a “hold” rating and a $80.00 target price for the company.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the sale, the chief executive officer now directly owns 20,324 shares in the company, valued at $1,396,258.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.29% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATVI. Egerton Capital UK LLP increased its position in shares of Activision Blizzard by 29.1% during the second quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock valued at $556,085,000 after purchasing an additional 1,642,285 shares during the period. ADAMCAPITAL Gestao de Recursos Ltda. bought a new stake in Activision Blizzard in the second quarter valued at $108,371,000. Flossbach Von Storch AG grew its position in Activision Blizzard by 5,313.4% in the second quarter. Flossbach Von Storch AG now owns 1,190,950 shares of the company’s stock valued at $90,893,000 after acquiring an additional 1,168,950 shares during the period. Marshall Wace LLP grew its position in Activision Blizzard by 545.7% in the second quarter. Marshall Wace LLP now owns 1,216,280 shares of the company’s stock valued at $92,826,000 after acquiring an additional 1,027,904 shares during the period. Finally, American Century Companies Inc. grew its position in Activision Blizzard by 42.3% in the second quarter. American Century Companies Inc. now owns 3,440,431 shares of the company’s stock valued at $262,574,000 after acquiring an additional 1,022,112 shares during the period. Institutional investors and hedge funds own 87.15% of the company’s stock.

ATVI traded down $1.48 on Friday, hitting $68.84. The company had a trading volume of 6,534,099 shares, compared to its average volume of 8,152,340. Activision Blizzard has a 1-year low of $57.29 and a 1-year 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. The firm has a market cap of $52.48 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company earned $0.32 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts anticipate that Activision Blizzard will post 2.49 earnings per share for the current fiscal 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. 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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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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