BMO Capital Markets Boosts Activision Blizzard (NASDAQ:ATVI) Price Target to $43.00

Activision Blizzard (NASDAQ:ATVI) had its price objective lifted by BMO Capital Markets from $40.00 to $43.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. BMO Capital Markets currently has a market perform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Activision Blizzard from a hold rating to a buy rating in a research report on Thursday, August 1st. Jefferies Financial Group assumed coverage on shares of Activision Blizzard in a research report on Thursday, July 11th. They set a buy rating and a $56.00 target price for the company. UBS Group reiterated a buy rating and set a $56.00 target price (up previously from $52.00) on shares of Activision Blizzard in a research report on Friday, August 9th. William Blair reiterated an outperform rating on shares of Activision Blizzard in a research report on Friday, May 3rd. Finally, Nomura assumed coverage on shares of Activision Blizzard in a research report on Thursday, June 6th. They issued a neutral rating and a $49.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $59.68.

Shares of Activision Blizzard stock opened at $46.66 on Wednesday. The stock has a market capitalization of $34.72 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. The company has a quick ratio of 2.61, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $47.37 and a 200 day simple moving average of $45.68. Activision Blizzard has a 12-month low of $39.85 and a 12-month high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. On average, equities analysts anticipate that Activision Blizzard will post 2 earnings per share for the current year.

In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher B. Walther sold 11,333 shares of Activision Blizzard stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. Insiders have sold a total of 153,844 shares of company stock worth $7,359,670 in the last three months. 1.29% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. HL Financial Services LLC raised its holdings in shares of Activision Blizzard by 3.9% in the first quarter. HL Financial Services LLC now owns 5,746 shares of the company’s stock valued at $262,000 after purchasing an additional 216 shares during the last quarter. Cornerstone Advisors Inc. raised its holdings in shares of Activision Blizzard by 13.1% in the second quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the company’s stock valued at $93,000 after purchasing an additional 229 shares during the last quarter. Regentatlantic Capital LLC raised its holdings in shares of Activision Blizzard by 4.5% in the first quarter. Regentatlantic Capital LLC now owns 5,971 shares of the company’s stock valued at $272,000 after purchasing an additional 257 shares during the last quarter. Dowling & Yahnke LLC raised its holdings in shares of Activision Blizzard by 1.0% in the second quarter. Dowling & Yahnke LLC now owns 26,404 shares of the company’s stock valued at $1,246,000 after purchasing an additional 258 shares during the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Activision Blizzard by 33.9% in the first quarter. Lindbrook Capital LLC now owns 1,083 shares of the company’s stock valued at $49,000 after purchasing an additional 274 shares during the last quarter. 86.34% 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. It 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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