Activision Blizzard (NASDAQ:ATVI) Price Target Increased to $55.00 by Analysts at Morgan Stanley

Activision Blizzard (NASDAQ:ATVI) had its target price raised by Morgan Stanley from $53.00 to $55.00 in a report released on Monday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on the company. BidaskClub raised Zillow Group from a hold rating to a buy rating in a report on Wednesday, May 22nd. Piper Jaffray Companies set a $15.00 target price on BioCryst Pharmaceuticals and gave the company a buy rating in a report on Monday, April 22nd. William Blair reaffirmed an outperform rating on shares of Activision Blizzard in a report on Friday, May 3rd. Zacks Investment Research lowered Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a report on Thursday, May 9th. Finally, Stephens set a $37.00 target price on Talos Energy and gave the company a buy rating in a report on Wednesday, May 22nd. Fourteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Activision Blizzard currently has a consensus rating of Buy and a consensus price target of $60.03.

Shares of Activision Blizzard stock opened at $45.72 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.61 and a current ratio of 2.63. The company has a market capitalization of $35.76 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.33 and a beta of 0.90. Activision Blizzard has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The company has a 50-day moving average price of $46.11.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.13. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. Activision Blizzard’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. On average, equities analysts anticipate that Activision Blizzard will post 1.98 EPS for the current year.

In other Activision Blizzard news, insider Christopher B. Walther sold 11,333 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $47.91, for a total value of $542,964.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total value of $102,652.00. The disclosure for this sale can be found here. Insiders sold a total of 15,999 shares of company stock valued at $752,724 over the last three months. Corporate insiders own 1.29% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Activision Blizzard by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock worth $423,741,000 after purchasing an additional 626,387 shares during the period. Coatue Management LLC lifted its position in Activision Blizzard by 2.8% in the fourth quarter. Coatue Management LLC now owns 9,010,449 shares of the company’s stock worth $419,616,000 after purchasing an additional 245,074 shares during the period. Norges Bank acquired a new stake in Activision Blizzard in the fourth quarter worth approximately $347,929,000. Swedbank lifted its position in Activision Blizzard by 21.5% in the first quarter. Swedbank now owns 6,007,179 shares of the company’s stock worth $273,507,000 after purchasing an additional 1,063,547 shares during the period. Finally, CI Investments Inc. lifted its position in Activision Blizzard by 373,375.1% in the fourth quarter. CI Investments Inc. now owns 5,602,127 shares of the company’s stock worth $260,891,000 after purchasing an additional 5,600,627 shares during the period. Hedge funds and other institutional investors own 86.35% of the company’s stock.

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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