Activision Blizzard, Inc (ATVI) Rating Reiterated by Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their overweight rating on shares of Activision Blizzard, Inc (NASDAQ:ATVI) in a report published on Wednesday. The firm currently has a $65.00 price target on the stock, up from their prior price target of $60.00.
Other analysts have also recently issued reports about the stock. UBS AG reissued a buy rating and set a $60.00 price objective (up from $57.00) on shares of Activision Blizzard in a research note on Friday, May 5th. Wedbush set a $63.00 price objective on shares of Activision Blizzard and gave the company a buy rating in a research note on Saturday, May 6th. BidaskClub cut shares of Activision Blizzard from a buy rating to a hold rating in a research note on Tuesday, July 25th. Credit Suisse Group boosted their price objective on shares of Activision Blizzard from $61.00 to $62.00 and gave the company an outperform rating in a research note on Monday, May 15th. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of Activision Blizzard from $60.00 to $70.00 and gave the company an outperform rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $61.14.
Activision Blizzard (NASDAQ:ATVI) opened at 61.45 on Wednesday. The firm has a market capitalization of $46.31 billion, a PE ratio of 45.08 and a beta of 1.07. The firm’s 50-day moving average price is $59.54 and its 200-day moving average price is $51.48. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $63.19.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.11. Activision Blizzard had a net margin of 14.63% and a return on equity of 16.90%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.23 EPS. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts predict that Activision Blizzard will post $2.01 EPS for the current fiscal year.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total value of $1,095,747.45. Following the sale, the chief executive officer now owns 55,509 shares in the company, valued at approximately $3,077,974.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.12% of the company’s stock.
Large investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Activision Blizzard by 0.5% in the first quarter. FMR LLC now owns 112,040,404 shares of the company’s stock worth $5,586,335,000 after buying an additional 560,282 shares during the period. BlackRock Inc. increased its stake in shares of Activision Blizzard by 3,032.9% in the first quarter. BlackRock Inc. now owns 48,912,065 shares of the company’s stock worth $2,438,753,000 after buying an additional 47,350,818 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Activision Blizzard by 6.8% in the first quarter. Vanguard Group Inc. now owns 46,195,943 shares of the company’s stock worth $2,303,328,000 after buying an additional 2,943,200 shares in the last quarter. State Street Corp increased its stake in shares of Activision Blizzard by 2.1% in the first quarter. State Street Corp now owns 25,482,605 shares of the company’s stock worth $1,270,575,000 after buying an additional 523,213 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of Activision Blizzard by 4.0% in the first quarter. Janus Capital Management LLC now owns 18,069,393 shares of the company’s stock worth $900,934,000 after buying an additional 691,950 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.
About Activision Blizzard
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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