Benchmark Raises Activision Blizzard (NASDAQ:ATVI) Price Target to $118.00


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Activision Blizzard (NASDAQ:ATVI) had its price target boosted by investment analysts at Benchmark from $109.00 to $118.00 in a research report issued on Tuesday, The Fly reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 22.74% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Credit Suisse Group upped their price target on shares of Activision Blizzard from $96.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, February 1st. Argus increased their target price on shares of Activision Blizzard from $102.00 to $122.00 in a research note on Thursday, February 18th. Raymond James reissued a “buy” rating on shares of Activision Blizzard in a research note on Monday. Piper Sandler increased their target price on shares of Activision Blizzard from $97.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. Finally, Truist increased their target price on shares of Activision Blizzard from $90.00 to $100.00 in a research note on Tuesday, February 2nd. Four analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $102.23.

Shares of ATVI stock opened at $96.14 on Tuesday. Activision Blizzard has a 12-month low of $50.51 and a 12-month high of $104.53. The company has a current ratio of 4.12, a quick ratio of 4.12 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average price is $95.46 and its 200-day moving average price is $84.99. The stock has a market capitalization of $74.30 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 1.72 and a beta of 0.71.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Wednesday, February 3rd. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.03. Activision Blizzard had a return on equity of 19.07% and a net margin of 28.90%. During the same period last year, the company earned $1.23 earnings per share. As a group, research analysts predict that Activision Blizzard will post 3.22 EPS for the current fiscal year.

In other Activision Blizzard news, Director Casey Wasserman sold 10,000 shares of Activision Blizzard stock in a transaction on Friday, December 4th. The shares were sold at an average price of $80.75, for a total value of $807,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.13% of the company’s stock.

Several large investors have recently modified their holdings of ATVI. Ellevest Inc. boosted its holdings in shares of Activision Blizzard by 20.8% in the third quarter. Ellevest Inc. now owns 1,041 shares of the company’s stock valued at $84,000 after acquiring an additional 179 shares in the last quarter. Calamos Advisors LLC boosted its holdings in Activision Blizzard by 5.0% during the third quarter. Calamos Advisors LLC now owns 138,204 shares of the company’s stock worth $11,188,000 after buying an additional 6,519 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in Activision Blizzard by 50.5% during the third quarter. Alberta Investment Management Corp now owns 14,900 shares of the company’s stock worth $1,206,000 after buying an additional 5,000 shares in the last quarter. JustInvest LLC boosted its holdings in Activision Blizzard by 39.8% during the third quarter. JustInvest LLC now owns 4,729 shares of the company’s stock worth $383,000 after buying an additional 1,346 shares in the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Activision Blizzard by 3.3% during the third quarter. State of Michigan Retirement System now owns 203,142 shares of the company’s stock worth $16,444,000 after buying an additional 6,400 shares in the last quarter. 85.77% of the stock is currently owned by institutional investors and hedge funds.

About Activision Blizzard

Activision Blizzard, Inc, together with its subsidiaries, develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment.

See Also: Analyst Ratings

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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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