Activision Blizzard (NASDAQ:ATVI) had its price objective raised by research analysts at Morgan Stanley from $53.00 to $55.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 17.05% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Buckingham Research set a $32.50 price target on Fastenal and gave the stock a “hold” rating in a report on Friday, April 12th. BidaskClub upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Finally, Piper Jaffray Companies set a $15.00 target price on BioCryst Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, April 22nd. Fourteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $60.03.

NASDAQ ATVI opened at $46.99 on Monday. The stock has a market cap of $36.16 billion, a PE ratio of 19.66, a PEG ratio of 2.35 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 business has a 50 day moving average of $46.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.61 and a current ratio of 2.63.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.13. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities analysts anticipate that Activision Blizzard will post 1.98 EPS for the current fiscal year.

In other Activision Blizzard news, insider Christopher B. Walther sold 11,333 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $47.91, for a total value of $542,964.03. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher B. Walther sold 2,333 shares of the stock in a transaction 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. Over the last three months, insiders have sold 15,999 shares of company stock worth $752,724. Corporate insiders own 1.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ATVI. Brown Advisory Inc. increased its holdings in Activision Blizzard by 133.1% in the 4th quarter. Brown Advisory Inc. now owns 13,575 shares of the company’s stock valued at $632,000 after acquiring an additional 7,752 shares during the last quarter. Geode Capital Management LLC increased its holdings in Activision Blizzard by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock valued at $423,741,000 after acquiring an additional 626,387 shares during the last quarter. QS Investors LLC increased its holdings in Activision Blizzard by 44.9% in the 4th quarter. QS Investors LLC now owns 26,121 shares of the company’s stock valued at $1,217,000 after acquiring an additional 8,100 shares during the last quarter. Caxton Associates LP increased its holdings in Activision Blizzard by 102.5% in the 4th quarter. Caxton Associates LP now owns 4,460 shares of the company’s stock valued at $208,000 after acquiring an additional 184,460 shares during the last quarter. Finally, Brinker Capital Inc. increased its holdings in Activision Blizzard by 7.6% in the 4th quarter. Brinker Capital Inc. now owns 10,046 shares of the company’s stock valued at $468,000 after acquiring an additional 711 shares during the last quarter. 86.35% of the stock is currently owned by hedge funds and other institutional investors.

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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