Activision Blizzard (NASDAQ:ATVI) was upgraded by research analysts at Jefferies Financial Group to a “buy” rating in a report released on Thursday, TipRanks reports. The firm currently has a $65.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 16.18% from the company’s previous close. Jefferies Financial Group also issued estimates for Activision Blizzard’s Q4 2019 earnings at $1.25 EPS, FY2019 earnings at $2.05 EPS and FY2020 earnings at $2.49 EPS.

Other equities research analysts have also issued research reports about the company. Ascendiant Capital Markets restated a “buy” rating and set a $55.00 price objective (up previously from $53.00) on shares of Activision Blizzard in a research note on Wednesday, August 14th. UBS Group restated a “buy” rating and set a $56.00 price objective (up previously from $52.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Citigroup initiated coverage on Activision Blizzard in a research note on Friday, June 7th. They set a “neutral” rating and a $47.00 price objective for the company. TheStreet upgraded Activision Blizzard from a “c+” rating to a “b-” rating in a research note on Tuesday, August 13th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Activision Blizzard in a research note on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $62.00.

NASDAQ ATVI traded up $0.50 during mid-day trading on Thursday, reaching $55.95. 5,856,271 shares of the company’s stock traded hands, compared to its average volume of 7,419,268. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $84.68. The company has a fifty day simple moving average of $49.53 and a 200-day simple moving average of $46.58. The company has a current ratio of 3.46, a quick ratio of 3.43 and a debt-to-equity ratio of 0.22. The company has a market cap of $42.53 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 2.20 and a beta of 0.89.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.41 EPS. Activision Blizzard’s quarterly revenue was down 12.9% on a year-over-year basis. Equities research analysts forecast that Activision Blizzard will post 2 earnings per share for the current fiscal year.

In other news, insider Christopher B. Walther sold 11,333 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the sale, the insider now directly owns 58,563 shares in the company, valued at approximately $2,799,311.40. The disclosure for this sale can be found here. Insiders have sold a total of 156,844 shares of company stock worth $7,528,095 in the last ninety days. 1.29% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Trexquant Investment LP bought a new position in Activision Blizzard during the 1st quarter worth about $1,477,000. Arizona State Retirement System increased its stake in Activision Blizzard by 61.5% in the second quarter. Arizona State Retirement System now owns 236,887 shares of the company’s stock valued at $11,181,000 after acquiring an additional 90,217 shares during the last quarter. CWM LLC increased its stake in Activision Blizzard by 1.1% in the second quarter. CWM LLC now owns 58,576 shares of the company’s stock valued at $2,765,000 after acquiring an additional 661 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Activision Blizzard by 32.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 99,750 shares of the company’s stock valued at $4,541,000 after acquiring an additional 24,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Activision Blizzard by 4.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,295,380 shares of the company’s stock valued at $155,542,000 after acquiring an additional 134,048 shares during the last quarter. Institutional investors and hedge funds own 87.07% 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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