Activision Blizzard (NASDAQ:ATVI) Given New $65.00 Price Target at Morgan Stanley

Activision Blizzard (NASDAQ:ATVI) had its target price increased by Morgan Stanley from $60.00 to $65.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages have also commented on ATVI. Citigroup lifted their price target on Activision Blizzard from $47.00 to $55.00 and gave the company a neutral rating in a research note on Tuesday, October 15th. They noted that the move was a valuation call. Argus reissued a focus list rating on shares of Activision Blizzard in a research note on Friday, November 15th. Barclays set a $63.00 price target on Activision Blizzard and gave the company a buy rating in a research note on Monday, October 21st. BMO Capital Markets lifted their price target on Activision Blizzard from $60.00 to $65.00 and gave the company an outperform rating in a research note on Monday, November 4th. Finally, Sanford C. Bernstein lowered Activision Blizzard from a market perform rating to an underperform rating and lifted their price target for the company from $41.00 to $43.00 in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $61.46.

Shares of ATVI stock traded down $1.10 during mid-day trading on Tuesday, reaching $59.04. 3,467,175 shares of the stock traded hands, compared to its average volume of 4,769,956. The stock’s fifty day simple moving average is $58.85 and its two-hundred day simple moving average is $53.56. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $61.90. The company has a market cap of $46.20 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.99 and a beta of 0.83. The company has a quick ratio of 3.38, a current ratio of 3.43 and a debt-to-equity ratio of 0.22.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. Activision Blizzard had a return on equity of 13.91% and a net margin of 23.66%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was down 27.1% on a year-over-year basis. On average, equities research analysts anticipate that Activision Blizzard will post 2.02 EPS for the current fiscal year.

In other Activision Blizzard news, COO Collister Johnson sold 3,800 shares of Activision Blizzard stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $52.43, for a total value of $199,234.00. Following the completion of the sale, the chief operating officer now directly owns 280,983 shares in the company, valued at $14,731,938.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.29% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Manchester Financial Inc. bought a new stake in Activision Blizzard in the fourth quarter worth approximately $25,000. B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Activision Blizzard during the third quarter valued at approximately $28,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Activision Blizzard during the third quarter valued at approximately $29,000. Candriam Luxembourg S.C.A. increased its holdings in shares of Activision Blizzard by 50.7% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 489,868 shares of the company’s stock valued at $29,000 after acquiring an additional 164,842 shares in the last quarter. Finally, Quantum Capital Management bought a new stake in shares of Activision Blizzard during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 88.57% 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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