Oppenheimer Holdings, Inc. Boosts Activision Blizzard, Inc (ATVI) Price Target to $70.00
Activision Blizzard, Inc (NASDAQ:ATVI) had its price objective boosted by research analysts at Oppenheimer Holdings, Inc. from $60.00 to $70.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “outperform” rating on the stock. Oppenheimer Holdings, Inc.’s price target would suggest a potential upside of 15.36% from the company’s current price.
A number of other brokerages have also commented on ATVI. Wedbush set a $63.00 price target on Activision Blizzard and gave the company a “buy” rating in a research note on Saturday, May 6th. Benchmark Co. lifted their price target on Activision Blizzard from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday. Vetr raised Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $65.85 price target on the stock in a research note on Thursday, June 15th. William Blair started coverage on Activision Blizzard in a research note on Wednesday, March 1st. They set an “outperform” rating and a $47.64 price target on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and set a $68.00 price target on shares of Activision Blizzard in a research note on Thursday, June 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.59.
Shares of Activision Blizzard (NASDAQ:ATVI) traded up 0.41% on Thursday, reaching $60.93. 1,442,806 shares of the company traded hands. The company has a market capitalization of $45.92 billion, a P/E ratio of 44.70 and a beta of 1.03. The firm’s 50 day moving average is $57.28 and its 200 day moving average is $47.26. Activision Blizzard has a one year low of $35.12 and a one year high of $61.10.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.11. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.09 billion. Activision Blizzard had a return on equity of 16.90% and a net margin of 14.63%. Activision Blizzard’s revenue was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. Analysts expect that Activision Blizzard will post $2.00 earnings per share for the current fiscal year.
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In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $55.45, for a total transaction of $1,095,747.45. Following the completion of the sale, the chief executive officer now owns 55,509 shares in the company, valued at $3,077,974.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian G. Kelly sold 420,063 shares of the business’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $49.90, for a total value of $20,961,143.70. The disclosure for this sale can be found here. Insiders own 2.12% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Friess Associates LLC increased its stake in Activision Blizzard by 0.7% in the fourth quarter. Friess Associates LLC now owns 488,249 shares of the company’s stock valued at $17,631,000 after buying an additional 3,249 shares in the last quarter. Janus Capital Management LLC increased its stake in Activision Blizzard by 54.1% in the fourth quarter. Janus Capital Management LLC now owns 17,377,443 shares of the company’s stock valued at $627,710,000 after buying an additional 6,099,218 shares in the last quarter. Fiera Capital Corp increased its stake in Activision Blizzard by 34.3% in the fourth quarter. Fiera Capital Corp now owns 8,698 shares of the company’s stock valued at $314,000 after buying an additional 2,223 shares in the last quarter. Franklin Resources Inc. increased its stake in Activision Blizzard by 6.0% in the fourth quarter. Franklin Resources Inc. now owns 109,439 shares of the company’s stock valued at $3,951,000 after buying an additional 6,216 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Activision Blizzard during the fourth quarter valued at approximately $586,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.
Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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