Activision Blizzard (NASDAQ:ATVI) Rating Reiterated by Piper Jaffray Companies

Activision Blizzard (NASDAQ:ATVI)‘s stock had its “buy” rating reiterated by investment analysts at Piper Jaffray Companies in a research note issued to investors on Friday, TipRanks reports.

A number of other research analysts have also commented on ATVI. Stephens upgraded Activision Blizzard from an “equal” rating to a “weight” rating and increased their price objective for the company from $52.00 to $65.00 in a research report on Thursday, September 5th. TheStreet upgraded Activision Blizzard from a “c+” rating to a “b-” rating in a research report on Tuesday, August 13th. Credit Suisse Group cut their price target on Activision Blizzard from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Sanford C. Bernstein downgraded Activision Blizzard from a “market perform” rating to an “underperform” rating and increased their price target for the company from $41.00 to $43.00 in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets raised Activision Blizzard from a “market perform” rating to an “outperform” rating and increased their price target for the company from $43.00 to $60.00 in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $59.45.

ATVI traded down $1.05 during mid-day trading on Friday, reaching $54.54. The stock had a trading volume of 8,215,901 shares, compared to its average volume of 7,939,254. The stock has a market capitalization of $42.64 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.15 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.43 and a current ratio of 3.46. The firm’s fifty day simple moving average is $54.03 and its two-hundred day simple moving average is $48.40. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $74.58.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.14. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. As a group, analysts expect that Activision Blizzard will post 2 EPS for the current fiscal year.

In related news, insider Christopher B. Walther sold 5,333 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.34, for a total transaction of $268,463.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total value of $6,445,591.00. Following the sale, the insider now directly owns 58,563 shares in the company, valued at approximately $2,799,311.40. The disclosure for this sale can be found here. Insiders have sold a total of 150,844 shares of company stock worth $7,266,020 in the last ninety days. 1.29% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Capital Investment Advisory Services LLC raised its stake in shares of Activision Blizzard by 189.5% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 362 shares during the period. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Activision Blizzard in the 2nd quarter valued at about $29,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Activision Blizzard in the 3rd quarter valued at about $29,000. Coastal Investment Advisors Inc. acquired a new stake in shares of Activision Blizzard in the 3rd quarter valued at about $37,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Activision Blizzard by 104.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 722 shares of the company’s stock valued at $38,000 after purchasing an additional 368 shares during the period. 87.04% of the stock is currently owned by institutional investors and hedge funds.

Activision Blizzard Company Profile

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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