Activision Blizzard (NASDAQ:ATVI) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday, March 15th. The brokerage presently has a $83.78 price objective on the stock. Vetr‘s price objective suggests a potential upside of 16.99% from the company’s current price.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Tuesday, March 13th. Citigroup reiterated a “positive” rating and issued a $87.00 price target (up previously from $78.00) on shares of Activision Blizzard in a research report on Monday, March 12th. ValuEngine raised Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub raised Activision Blizzard from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Finally, Argus upped their price target on Activision Blizzard from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard presently has an average rating of “Buy” and a consensus target price of $75.03.
Shares of ATVI stock opened at $71.61 on Thursday. The firm has a market capitalization of $54,143.54, a P/E ratio of 32.15, a P/E/G ratio of 1.90 and a beta of 1.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78. Activision Blizzard has a fifty-two week low of $47.80 and a fifty-two week high of $79.63.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. analysts predict that Activision Blizzard will post 2.57 earnings per share for the current year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $70.99, for a total transaction of $1,402,833.39. Following the transaction, the chief executive officer now directly owns 34,398 shares of the company’s stock, valued at $2,441,914.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen G. Wereb sold 120,521 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $72.38, for a total value of $8,723,309.98. Following the completion of the sale, the insider now directly owns 48,511 shares in the company, valued at $3,511,226.18. The disclosure for this sale can be found here. Insiders have sold 2,701,258 shares of company stock worth $191,727,094 over the last ninety days. Insiders own 2.12% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its position in Activision Blizzard by 94.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock valued at $4,280,000 after acquiring an additional 32,224 shares in the last quarter. Carmignac Gestion boosted its position in Activision Blizzard by 0.5% during the 3rd quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock valued at $381,911,000 after acquiring an additional 26,761 shares in the last quarter. Pacer Advisors Inc. boosted its position in Activision Blizzard by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 28,080 shares of the company’s stock valued at $1,811,000 after acquiring an additional 3,391 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in Activision Blizzard during the 4th quarter valued at approximately $1,171,000. Finally, Fox Run Management L.L.C. bought a new stake in Activision Blizzard during the 4th quarter valued at approximately $731,000. 85.56% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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