Activision Blizzard (ATVI) Receives $75.14 Consensus Target Price from Brokerages

Shares of Activision Blizzard (NASDAQ:ATVI) have been assigned an average recommendation of “Buy” from the thirty-three research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, twenty-five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $74.72.

A number of analysts have weighed in on ATVI shares. Zacks Investment Research cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. BidaskClub cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. SunTrust Banks set a $77.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Vetr cut shares of Activision Blizzard from a “hold” rating to a “sell” rating and set a $69.79 price objective on the stock. in a research note on Monday, January 29th. Finally, TheStreet cut shares of Activision Blizzard from a “b” rating to a “c+” rating in a research note on Thursday, February 8th.

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In other news, Director Brian G. Kelly sold 1,700,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $70.65, for a total transaction of $120,105,000.00. Following the transaction, the director now owns 69,474 shares in the company, valued at $4,908,338.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis M. Durkin sold 21,488 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $77.18, for a total transaction of $1,658,443.84. Following the transaction, the insider now owns 151,314 shares in the company, valued at approximately $11,678,414.52. The disclosure for this sale can be found here. Insiders have sold 2,701,258 shares of company stock worth $191,727,094 in the last ninety days. Insiders own 2.12% of the company’s stock.



Several hedge funds and other institutional investors have recently made changes to their positions in ATVI. SeaCrest Wealth Management LLC acquired a new position in shares of Activision Blizzard during the fourth quarter valued at about $125,000. Goodman Financial Corp acquired a new position in shares of Activision Blizzard during the fourth quarter valued at about $127,000. James Hambro & Partners acquired a new position in shares of Activision Blizzard during the fourth quarter valued at about $184,000. Exane Derivatives raised its holdings in shares of Activision Blizzard by 15,900.0% during the fourth quarter. Exane Derivatives now owns 3,040 shares of the company’s stock valued at $192,000 after purchasing an additional 3,021 shares during the period. Finally, Delpha Capital Management LLC acquired a new position in shares of Activision Blizzard during the fourth quarter valued at about $202,000. Hedge funds and other institutional investors own 85.57% of the company’s stock.

NASDAQ ATVI opened at $64.56 on Wednesday. The firm has a market cap of $48,977.26, a price-to-earnings ratio of 31.49, a P/E/G ratio of 1.75 and a beta of 1.16. Activision Blizzard has a fifty-two week low of $48.41 and a fifty-two week high of $79.63. The company has a current ratio of 1.78, a quick ratio of 1.77 and a debt-to-equity ratio of 0.46.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.48%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. sell-side analysts predict that Activision Blizzard will post 2.52 earnings per share for the current year.

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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. The company 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.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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