Activision Blizzard (NASDAQ:ATVI) Given Buy Rating at Jefferies Financial Group

Activision Blizzard (NASDAQ:ATVI – Get Rating)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Financial Group in a report issued on Wednesday. They currently have a $95.00 price objective on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 23.28% from the company’s previous close.

Several other analysts also recently commented on ATVI. Benchmark increased their price objective on shares of Activision Blizzard from $95.00 to $100.00 in a research report on Friday, February 4th. Truist Financial downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating and raised their price target for the company from $74.00 to $95.00 in a report on Tuesday, January 18th. Wells Fargo & Company downgraded shares of Activision Blizzard from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a report on Wednesday, January 19th. Edward Jones downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a report on Thursday, January 13th. Finally, Raymond James downgraded shares of Activision Blizzard from an “outperform” rating to a “market perform” rating in a report on Friday, January 21st. Nineteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.86.

Shares of Activision Blizzard stock opened at $77.06 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.21 and a quick ratio of 5.21. The company has a 50-day moving average of $79.96 and a 200 day moving average of $73.55. The firm has a market cap of $60.18 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.63 and a beta of 0.55. Activision Blizzard has a 1 year low of $56.40 and a 1 year high of $99.46.

Activision Blizzard (NASDAQ:ATVI – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.07). Activision Blizzard had a net margin of 30.65% and a return on equity of 15.15%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities analysts anticipate that Activision Blizzard will post 3.34 EPS for the current year.

In related news, COO Daniel Alegre sold 14,563 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $79.66, for a total transaction of $1,160,088.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jesse Yang sold 2,072 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $79.54, for a total value of $164,806.88. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Confluence Wealth Services Inc. acquired a new stake in Activision Blizzard in the fourth quarter valued at approximately $25,000. TAP Consulting LLC purchased a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $30,000. KB Financial Partners LLC purchased a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $30,000. Equitec Proprietary Markets LLC purchased a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $31,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Activision Blizzard in the fourth quarter valued at approximately $33,000. 84.01% of the stock is currently owned by hedge funds and other institutional investors.

Activision Blizzard Company Profile (Get Rating)

Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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