ValuEngine lowered shares of Activision Blizzard (NASDAQ:ATVI) from a hold rating to a sell rating in a report issued on Friday morning.

Other equities analysts also recently issued reports about the company. Barclays upgraded Activision Blizzard from an equal weight rating to an overweight rating and lifted their target price for the company from $79.00 to $86.00 in a research report on Monday, October 15th. Piper Jaffray Companies lowered their target price on Activision Blizzard to $55.00 and set an overweight rating on the stock in a research report on Friday. Needham & Company LLC reiterated a buy rating and set a $60.00 target price (down from $90.00) on shares of Activision Blizzard in a research report on Friday, December 14th. Stifel Nicolaus lowered their target price on Activision Blizzard from $82.00 to $78.00 and set a buy rating on the stock in a research report on Wednesday, October 31st. Finally, CIBC lowered their target price on Activision Blizzard from $87.00 to $68.00 and set an outperform rating on the stock in a research report on Friday, November 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $72.58.

ATVI stock opened at $46.54 on Friday. The firm has a market capitalization of $38.79 billion, a PE ratio of 22.70, a PEG ratio of 1.42 and a beta of 1.02. The company has a current ratio of 2.09, a quick ratio of 2.01 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.

Activision Blizzard (NASDAQ:ATVI) last released its 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). The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. Activision Blizzard’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, equities research analysts expect that Activision Blizzard will post 2.35 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of ATVI. Capital International Investors raised its holdings in Activision Blizzard by 233.8% during 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 period. Capital Research Global Investors raised its holdings in Activision Blizzard by 1,114.7% during 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 period. FMR LLC raised its holdings in Activision Blizzard by 4.8% during 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 period. Point72 Asset Management L.P. raised its holdings in Activision Blizzard by 3,277.0% during 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 period. Finally, Bessemer Group Inc. raised its holdings in Activision Blizzard by 127,027.1% during 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 period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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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