Activision Blizzard (ATVI) Price Target Lowered to $87.00 at Benchmark

Activision Blizzard (NASDAQ:ATVI) had its price target reduced by research analysts at Benchmark to $87.00 in a report released on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 69.43% from the company’s current price.

ATVI has been the topic of several other reports. BidaskClub downgraded Activision Blizzard from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. Oppenheimer lowered their target price on Activision Blizzard from $87.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, November 9th. Jefferies Financial Group set a $85.00 target price on Activision Blizzard and gave the company a “buy” rating in a research report on Saturday, November 10th. JPMorgan Chase & Co. upgraded Activision Blizzard from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $72.00 to $66.00 in a research report on Thursday, December 6th. Finally, Bank of America lowered their target price on Activision Blizzard from $77.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, November 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.29.

Activision Blizzard stock opened at $51.35 on Friday. The firm has a market capitalization of $38.79 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02. Activision Blizzard has a 12 month low of $43.71 and a 12 month high of $84.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 2.01.



Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a return on equity of 15.44% and a net margin of 8.07%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue was down 12.6% on a year-over-year basis. Equities research analysts forecast that Activision Blizzard will post 2.35 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp acquired a new stake in shares of Activision Blizzard in the 2nd quarter valued at $720,000. First Republic Investment Management Inc. lifted its position in Activision Blizzard by 30.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 30,206 shares of the company’s stock worth $2,305,000 after buying an additional 6,986 shares in the last quarter. Natixis lifted its position in Activision Blizzard by 6.9% during the 2nd quarter. Natixis now owns 109,649 shares of the company’s stock worth $8,368,000 after buying an additional 7,083 shares in the last quarter. Macquarie Group Ltd. lifted its position in Activision Blizzard by 18.5% during the 2nd quarter. Macquarie Group Ltd. now owns 98,644 shares of the company’s stock worth $7,528,000 after buying an additional 15,400 shares in the last quarter. Finally, Soros Fund Management LLC lifted its position in Activision Blizzard by 120.1% during the 2nd quarter. Soros Fund Management LLC now owns 80,300 shares of the company’s stock worth $6,128,000 after buying an additional 480,300 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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