Activision Blizzard (ATVI) Hits New 12-Month High Following Analyst Upgrade
Activision Blizzard, Inc. (NASDAQ:ATVI) shares reached a new 52-week high during trading on Thursday after Macquarie raised their price target on the stock from $64.00 to $68.00. Macquarie currently has an outperform rating on the stock. Activision Blizzard traded as high as $69.29 and last traded at $66.83, with a volume of 4500900 shares changing hands. The stock had previously closed at $66.19.
ATVI has been the subject of a number of other reports. Vetr downgraded Activision Blizzard from a “hold” rating to a “sell” rating and set a $61.27 target price for the company. in a research report on Monday, November 20th. Morgan Stanley increased their target price on Activision Blizzard from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Barclays began coverage on Activision Blizzard in a research report on Wednesday, October 4th. They set an “equal weight” rating and a $65.00 target price for the company. Goldman Sachs Group upgraded Activision Blizzard from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 12th. Finally, Robert W. Baird increased their target price on Activision Blizzard from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $69.91.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the sale, the chief executive officer now directly owns 41,435 shares in the company, valued at $2,636,923.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.12% of the stock is owned by company insiders.
The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $52,350.00, a P/E ratio of 47.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02.
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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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