Activision Blizzard (NASDAQ:ATVI) Price Target Raised to $86.00

Activision Blizzard (NASDAQ:ATVI) had its target price upped by Piper Sandler from $79.00 to $86.00 in a research report report published on Tuesday morning, The Fly reports. They currently have an overweight rating on the stock. Piper Sandler also issued estimates for Activision Blizzard’s Q1 2021 earnings at $0.47 EPS, Q2 2021 earnings at $0.68 EPS, Q3 2021 earnings at $0.44 EPS, Q4 2021 earnings at $1.33 EPS and FY2021 earnings at $2.90 EPS.

Other analysts have also recently issued reports about the stock. Stephens upped their price target on shares of Activision Blizzard from $72.00 to $78.00 and gave the company an overweight rating in a research note on Wednesday, May 6th. Citigroup upped their price target on shares of Activision Blizzard from $64.00 to $73.00 and gave the company a neutral rating in a research note on Monday, May 18th. Nomura Instinet upped their price target on shares of Activision Blizzard from $70.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, May 6th. KeyCorp upped their price target on shares of Activision Blizzard from $80.00 to $83.00 and gave the company an overweight rating in a research note on Thursday, June 25th. Finally, Barclays reiterated a buy rating and issued a $82.00 target price on shares of Activision Blizzard in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Activision Blizzard currently has a consensus rating of Buy and an average price target of $75.63.

ATVI opened at $81.27 on Tuesday. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.21. The stock has a market cap of $62.13 billion, a price-to-earnings ratio of 40.23, a PEG ratio of 1.68 and a beta of 0.61. Activision Blizzard has a twelve month low of $44.81 and a twelve month high of $81.53. The company’s 50-day moving average price is $74.11 and its two-hundred day moving average price is $64.87.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Tuesday, May 5th. The company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.20. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Activision Blizzard had a net margin of 24.21% and a return on equity of 14.57%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, sell-side analysts anticipate that Activision Blizzard will post 2.51 earnings per share for the current year.

In other Activision Blizzard news, insider Collister Johnson sold 24,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $72.31, for a total value of $1,735,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jesse Yang acquired 500 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $73.00 per share, with a total value of $36,500.00. Following the acquisition, the chief accounting officer now owns 500 shares in the company, valued at approximately $36,500. The disclosure for this purchase can be found here. Insiders have sold a total of 324,000 shares of company stock valued at $23,504,440 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings in Activision Blizzard by 4.0% in the 1st quarter. Capital International Investors now owns 59,362,226 shares of the company’s stock worth $3,530,860,000 after buying an additional 2,295,133 shares during the period. BlackRock Inc. lifted its holdings in Activision Blizzard by 4.3% in the 1st quarter. BlackRock Inc. now owns 52,051,234 shares of the company’s stock worth $3,096,008,000 after buying an additional 2,149,264 shares during the period. Geode Capital Management LLC raised its position in shares of Activision Blizzard by 6.4% in the 1st quarter. Geode Capital Management LLC now owns 11,991,995 shares of the company’s stock worth $712,165,000 after acquiring an additional 721,775 shares in the last quarter. Morgan Stanley raised its position in shares of Activision Blizzard by 65.3% in the 1st quarter. Morgan Stanley now owns 8,571,832 shares of the company’s stock worth $509,853,000 after acquiring an additional 3,385,187 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Activision Blizzard in the 4th quarter worth approximately $495,007,000. Institutional investors and hedge funds own 87.16% of the company’s stock.

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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