Activision Blizzard, Inc. (NASDAQ:ATVI) has been given an average recommendation of “Buy” by the thirty-one brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, twenty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $71.20.

Several research firms have commented on ATVI. Wedbush boosted their price objective on Activision Blizzard from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 1st. BidaskClub upgraded Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Saturday, September 29th. Argus reiterated a “buy” rating and set a $90.00 price objective (up from $81.00) on shares of Activision Blizzard in a research note on Friday, September 21st. Piper Jaffray Companies restated an “overweight” rating and issued a $88.00 price target on shares of Activision Blizzard in a research report on Wednesday, September 26th. Finally, Robert W. Baird upped their price target on Activision Blizzard from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 13th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATVI. Capital International Investors lifted its holdings in Activision Blizzard by 233.8% in the third quarter. Capital International Investors now owns 9,072,649 shares of the company’s stock valued at $754,754,000 after acquiring an additional 6,354,412 shares during the last quarter. Capital Research Global Investors lifted its holdings in Activision Blizzard by 1,114.7% in the third quarter. Capital Research Global Investors now owns 6,251,684 shares of the company’s stock valued at $520,078,000 after acquiring an additional 5,737,000 shares during the last quarter. FMR LLC lifted its holdings in Activision Blizzard by 4.8% in the third quarter. FMR LLC now owns 96,798,252 shares of the company’s stock valued at $8,052,646,000 after acquiring an additional 4,476,835 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Activision Blizzard by 3,277.0% in the third quarter. Point72 Asset Management L.P. now owns 1,587,169 shares of the company’s stock valued at $132,037,000 after acquiring an additional 1,540,169 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Activision Blizzard by 127,027.1% in the third quarter. Bessemer Group Inc. now owns 1,220,420 shares of the company’s stock valued at $101,527,000 after acquiring an additional 1,219,460 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Shares of Activision Blizzard stock traded down $4.81 on Friday, hitting $46.54. The company’s stock had a trading volume of 35,421,837 shares, compared to its average volume of 11,967,760. The company has a quick ratio of 2.01, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. Activision Blizzard has a 1 year low of $43.71 and a 1 year high of $84.68. The firm has a market cap of $38.79 billion, a PE ratio of 22.70, a P/E/G ratio of 1.42 and a beta of 1.02.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. Activision Blizzard’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, sell-side analysts expect that Activision Blizzard will post 2.35 EPS for the current year.

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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