Activision Blizzard (ATVI) Upgraded to “Strong-Buy” by Vetr

Vetr upgraded shares of Activision Blizzard (NASDAQ:ATVI) from a buy rating to a strong-buy rating in a report released on Monday morning. They currently have $75.74 price objective on the stock.

ATVI has been the topic of a number of other research reports. Wedbush set a $75.00 price objective on shares of Activision Blizzard and gave the company a buy rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of Activision Blizzard from a hold rating to a strong-buy rating and set a $71.00 price objective on the stock in a research report on Friday, October 27th. UBS Group boosted their price objective on shares of Activision Blizzard from $72.00 to $75.00 and gave the company a buy rating in a research report on Friday, November 3rd. KeyCorp restated a buy rating and issued a $74.00 price target on shares of Activision Blizzard in a report on Tuesday, October 17th. Finally, BidaskClub upgraded shares of Activision Blizzard from a hold rating to a buy rating in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Activision Blizzard has an average rating of Buy and an average target price of $71.95.

Activision Blizzard (NASDAQ:ATVI) opened at $69.65 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78. Activision Blizzard has a 1 year low of $44.47 and a 1 year high of $74.94. The firm has a market cap of $52,660.00, a price-to-earnings ratio of 199.00, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.48%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. equities research analysts expect that Activision Blizzard will post 2.71 EPS for the current fiscal year.

In related news, CEO of King Digital Entertainment Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $63.64, for a total value of $1,257,590.04. Following the completion of the sale, the insider now directly owns 41,435 shares of the company’s stock, valued at $2,636,923.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.12% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. lifted its position in shares of Activision Blizzard by 0.4% during the second quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock valued at $711,000 after buying an additional 45 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Activision Blizzard by 13.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,437 shares of the company’s stock valued at $408,000 after buying an additional 769 shares during the last quarter. CI Global Investments Inc. lifted its position in shares of Activision Blizzard by 1.1% during the fourth quarter. CI Global Investments Inc. now owns 69,123 shares of the company’s stock valued at $4,377,000 after buying an additional 780 shares during the last quarter. Jackson Wealth Management LLC lifted its position in shares of Activision Blizzard by 6.6% during the fourth quarter. Jackson Wealth Management LLC now owns 12,744 shares of the company’s stock valued at $844,000 after buying an additional 788 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Activision Blizzard by 20.8% during the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,640 shares of the company’s stock valued at $299,000 after buying an additional 800 shares during the last quarter. 85.61% of the stock is owned by institutional investors.

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Activision Blizzard Company Profile

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

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