JPMorgan Chase & Co. Increases Activision Blizzard (NASDAQ:ATVI) Price Target to $62.00

Activision Blizzard (NASDAQ:ATVI) had its price target raised by analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.18% from the stock’s current price.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research note on Tuesday, October 29th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Friday, August 9th. KeyCorp reaffirmed an “overweight” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Tuesday, July 30th. Bank of America set a $62.00 price target on Activision Blizzard and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, UBS Group reaffirmed a “buy” rating and issued a $56.00 price target (up previously from $52.00) on shares of Activision Blizzard in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $59.81.

Shares of ATVI traded down $0.25 during midday trading on Friday, reaching $54.30. 15,898,300 shares of the stock were exchanged, compared to its average volume of 8,976,302. Activision Blizzard has a 12-month low of $39.85 and a 12-month high of $57.52. The company has a market cap of $42.60 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.14 and a beta of 0.87. The firm has a 50 day simple moving average of $54.65 and a 200-day simple moving average of $49.30. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.09. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm earned $0.52 EPS. Activision Blizzard’s revenue for the quarter was down 27.1% compared to the same quarter last year. Research analysts expect that Activision Blizzard will post 2.01 earnings per share for the current fiscal year.

In other Activision Blizzard news, insider Brian M. Stolz sold 134,845 shares of the business’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 transaction, the insider now owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $50.83, for a total value of $271,076.39. The disclosure for this sale can be found here. In the last three months, insiders sold 145,511 shares of company stock worth $6,997,557. Insiders own 1.29% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Activision Blizzard during the third quarter worth $28,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Activision Blizzard during the third quarter worth $29,000. Capital Investment Advisory Services LLC raised its position in shares of Activision Blizzard by 189.5% during the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of Activision Blizzard during the second quarter worth $29,000. Finally, Coastal Investment Advisors Inc. bought a new stake in shares of Activision Blizzard during the third quarter worth $37,000. 87.37% of the stock is currently owned by institutional investors.

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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