Activision Blizzard, Inc. (ATVI) Target Price Grow to $55.00 by Analysts at Morgan Stanley

Activision Blizzard, Inc. (ATVI) Target Price Grow to $55.00 by Analysts at Morgan Stanley

Activision Blizzard, Inc. (NASDAQ:ATVI) had its price target hoisted by equities research analysts at Morgan Stanley to $55.00 in a research report issued to clients and investors on Monday. Morgan Stanley’s price objective points to a potential upside of 11.97% from the company’s current price.

Several other research analysts have also weighed in on ATVI. Macquarie reiterated an “outperform” rating and set a $48.00 target price on shares of Activision Blizzard in a report on Wednesday, March 22nd. Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research note on Wednesday, February 15th. Barclays PLC reissued an “overweight” rating and issued a $48.00 price target (up previously from $44.00) on shares of Activision Blizzard in a research note on Thursday, February 16th. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price target on shares of Activision Blizzard in a research note on Thursday, February 16th. Finally, Wedbush reissued an “outperform” rating and issued a $53.00 price target on shares of Activision Blizzard in a research note on Friday, February 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $49.58.

Shares of Activision Blizzard (NASDAQ:ATVI) opened at 49.12 on Monday. The stock’s 50 day moving average price is $46.25 and its 200 day moving average price is $41.93. The company has a market cap of $36.93 billion, a P/E ratio of 38.38 and a beta of 1.03. Activision Blizzard has a 1-year low of $31.71 and a 1-year high of $49.70.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, February 9th. The company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.19. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.39 billion. Activision Blizzard had a return on equity of 16.70% and a net margin of 13.86%. The company’s revenue for the quarter was up 81.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Equities research analysts forecast that Activision Blizzard will post $1.95 earnings per share for the current year.

In related news, CEO Michael Morhaime sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $45.22, for a total value of $11,305,000.00. Following the completion of the sale, the chief executive officer now directly owns 189,999 shares in the company, valued at $8,591,754.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Brian G. Kelly sold 5,037,998 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $45.67, for a total value of $230,085,368.66. Following the completion of the sale, the director now owns 559,850 shares of the company’s stock, valued at $25,568,349.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,550,602 shares of company stock valued at $253,390,498. 25.23% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of ATVI. Physicians Financial Services Inc. boosted its stake in shares of Activision Blizzard by 21.7% in the third quarter. Physicians Financial Services Inc. now owns 2,808 shares of the company’s stock valued at $124,000 after buying an additional 500 shares during the period. Advisory Services Network LLC boosted its stake in shares of Activision Blizzard by 24.0% in the third quarter. Advisory Services Network LLC now owns 3,669 shares of the company’s stock valued at $163,000 after buying an additional 711 shares during the period. Synovus Financial Corp bought a new stake in shares of Activision Blizzard during the third quarter valued at about $163,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of Activision Blizzard during the third quarter valued at about $210,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Activision Blizzard by 0.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,879 shares of the company’s stock valued at $216,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 86.29% of the company’s stock.

Activision Blizzard Company Profile

Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.

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