Activision Blizzard (NASDAQ:ATVI) was upgraded by research analysts at Nomura from a “neutral” rating to a “buy” rating in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a $64.00 target price on the stock, up from their prior target price of $49.00. Nomura’s price target would indicate a potential upside of 16.55% from the stock’s current price.
Several other research analysts have also weighed in on ATVI. Credit Suisse Group dropped 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. BMO Capital Markets upgraded shares of Activision Blizzard from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $60.00 in a research note on Wednesday, September 4th. TheStreet upgraded shares of Activision Blizzard from a “c+” rating to a “b-” rating in a research note on Tuesday, August 13th. KeyCorp reiterated an “overweight” rating and issued a $60.00 price objective on shares of Activision Blizzard in a research note on Tuesday, July 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Activision Blizzard in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.55.
Activision Blizzard stock opened at $54.91 on Thursday. The firm has a market cap of $42.33 billion, a PE ratio of 22.97, a P/E/G ratio of 2.19 and a beta of 0.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.43 and a current ratio of 3.46. The firm’s 50 day moving average price is $49.35 and its two-hundred day moving average price is $46.51. Activision Blizzard has a twelve month low of $39.85 and a twelve month high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.14. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. Equities analysts anticipate that Activision Blizzard will post 2 EPS for the current fiscal year.
In other Activision Blizzard news, insider Brian M. Stolz sold 134,845 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the sale, the insider now directly owns 58,563 shares of the company’s stock, valued at approximately $2,799,311.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher B. Walther sold 5,333 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total transaction of $268,463.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,844 shares of company stock valued at $7,528,095. Insiders own 1.31% of the company’s stock.
A number of institutional investors have recently modified their holdings of ATVI. Capital Investment Advisory Services LLC raised its stake in shares of Activision Blizzard by 189.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after buying an additional 362 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Activision Blizzard in the 1st quarter valued at $27,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $29,000. Thor Advisors LLC acquired a new position in shares of Activision Blizzard in the 1st quarter valued at $40,000. Finally, Kavar Capital Partners LLC acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at $47,000. 87.07% of the stock is owned by hedge funds and other 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. 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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