Citigroup Boosts Activision Blizzard (NASDAQ:ATVI) Price Target to $55.00

Activision Blizzard (NASDAQ:ATVI) had its target price boosted by Citigroup from $47.00 to $55.00 in a report published on Tuesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the stock. The analysts noted that the move was a valuation call.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets upgraded shares of Activision Blizzard from a market perform rating to an outperform rating and upped their price objective for the stock from $43.00 to $60.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein cut shares of Activision Blizzard from a market perform rating to an underperform rating and increased their price objective for the company from $41.00 to $43.00 in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of Activision Blizzard from $57.00 to $65.00 and gave the company a buy rating in a research note on Monday, September 9th. Credit Suisse Group lowered their price objective on shares of Activision Blizzard from $65.00 to $64.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Finally, BidaskClub raised shares of Activision Blizzard from a buy rating to a strong-buy rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $59.50.

ATVI stock traded down $1.66 on Tuesday, hitting $53.93. The company’s stock had a trading volume of 301,733 shares, compared to its average volume of 7,852,384. The stock has a market cap of $42.62 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 2.15 and a beta of 0.85. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. Activision Blizzard has a 1 year low of $39.85 and a 1 year high of $74.58. The firm has a 50 day moving average of $53.93 and a two-hundred day moving average of $48.36.

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

In other news, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $50.83, for a total transaction of $271,076.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the transaction, the insider now 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 quarter, insiders have sold 150,844 shares of company stock worth $7,266,020. Insiders own 1.29% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC grew its position in shares of Activision Blizzard by 189.5% during the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after buying an additional 362 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Activision Blizzard during the second quarter worth approximately $29,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Activision Blizzard during the third quarter worth approximately $29,000. Meeder Asset Management Inc. grew its position in shares of Activision Blizzard by 104.0% during the third quarter. Meeder Asset Management Inc. now owns 722 shares of the company’s stock worth $38,000 after buying an additional 368 shares in the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Activision Blizzard during the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.04% of the company’s stock.

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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