Activision Blizzard (NASDAQ:ATVI) Coverage Initiated at Edward Jones

Analysts at Edward Jones started coverage on shares of Activision Blizzard (NASDAQ:ATVI) in a report released on Tuesday, TipRanks reports. The brokerage set a “buy” rating on the stock.

A number of other analysts have also recently commented on ATVI. JPMorgan Chase & Co. lifted their price target on Activision Blizzard from $68.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Robert W. Baird lifted their price target on Activision Blizzard from $61.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Needham & Company LLC boosted their price objective on Activision Blizzard from $75.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Piper Sandler boosted their price objective on Activision Blizzard from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, BMO Capital Markets boosted their price objective on Activision Blizzard from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $76.09.

Shares of ATVI opened at $79.15 on Tuesday. The stock has a 50-day moving average of $74.85 and a two-hundred day moving average of $65.41. Activision Blizzard has a one year low of $44.81 and a one year high of $82.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.78 and a current ratio of 2.78. The stock has a market cap of $60.98 billion, a P/E ratio of 39.18, a P/E/G ratio of 1.95 and a beta of 0.61.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.20. Activision Blizzard had a return on equity of 14.57% and a net margin of 24.21%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. Analysts predict that Activision Blizzard will post 2.52 EPS for the current fiscal year.

In other Activision Blizzard news, Director Brian G. Kelly sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $72.42, for a total transaction of $18,105,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jesse Yang acquired 400 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were purchased at an average price of $68.52 per share, with a total value of $27,408.00. Following the completion of the purchase, the chief accounting officer now owns 700 shares in the company, valued at approximately $47,964. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 324,000 shares of company stock valued at $23,504,440. 1.29% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of ATVI. Norges Bank purchased a new stake in shares of Activision Blizzard in the fourth quarter valued at approximately $495,007,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Activision Blizzard in the first quarter valued at approximately $327,047,000. Morgan Stanley grew its position in shares of Activision Blizzard by 65.3% in the first quarter. Morgan Stanley now owns 8,571,832 shares of the company’s stock valued at $509,853,000 after purchasing an additional 3,385,187 shares in the last quarter. AJO LP grew its position in shares of Activision Blizzard by 587.8% in the first quarter. AJO LP now owns 2,755,286 shares of the company’s stock valued at $163,883,000 after purchasing an additional 2,354,676 shares in the last quarter. Finally, Capital International Investors grew its position in shares of Activision Blizzard by 4.2% in the fourth quarter. Capital International Investors now owns 57,067,093 shares of the company’s stock valued at $3,390,926,000 after purchasing an additional 2,324,854 shares in the last quarter. Institutional investors and hedge funds own 86.73% 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.

Further Reading: Outperform Rating

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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