Argus reissued their buy rating on shares of Activision Blizzard (NASDAQ:ATVI) in a report published on Friday morning, MarketBeat.com reports. The firm currently has a $90.00 price target on the stock, up from their previous price target of $81.00.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Activision Blizzard from a hold rating to a buy rating and set a $87.00 price target for the company in a report on Wednesday, July 4th. BidaskClub cut shares of Activision Blizzard from a strong-buy rating to a buy rating in a report on Wednesday, July 25th. Needham & Company LLC upped their price target on shares of Activision Blizzard from $80.00 to $90.00 and gave the company a buy rating in a report on Tuesday, July 31st. Wedbush set a $81.00 price target on shares of Activision Blizzard and gave the company a buy rating in a report on Thursday, July 26th. Finally, Barclays reduced their price target on shares of Activision Blizzard from $82.00 to $79.00 and set a hold rating for the company in a report on Sunday, August 5th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard has a consensus rating of Buy and a consensus target price of $79.73.

Activision Blizzard stock opened at $80.29 on Friday. The company has a market capitalization of $61.21 billion, a PE ratio of 39.17, a P/E/G ratio of 2.14 and a beta of 0.87. Activision Blizzard has a twelve month low of $57.29 and a twelve month high of $82.03. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. equities research analysts predict that Activision Blizzard will post 2.49 EPS for the current fiscal year.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, the chief executive officer now owns 20,324 shares of the company’s stock, valued at $1,396,258.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Activision Blizzard by 0.4% during the second quarter. BlackRock Inc. now owns 51,100,165 shares of the company’s stock worth $3,899,967,000 after acquiring an additional 209,193 shares in the last quarter. Bank of New York Mellon Corp raised its position in Activision Blizzard by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 7,884,115 shares of the company’s stock worth $601,716,000 after acquiring an additional 241,423 shares in the last quarter. Egerton Capital UK LLP raised its position in Activision Blizzard by 29.1% during the second quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock worth $556,085,000 after acquiring an additional 1,642,285 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Activision Blizzard by 5.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,151,670 shares of the company’s stock worth $545,816,000 after acquiring an additional 389,194 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in Activision Blizzard by 284.7% during the first quarter. OppenheimerFunds Inc. now owns 4,159,793 shares of the company’s stock worth $280,621,000 after acquiring an additional 3,078,408 shares in the last quarter. 87.02% of the stock is currently 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. 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.

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Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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