Activision Blizzard (ATVI) Given New $87.00 Price Target at Benchmark

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Activision Blizzard (NASDAQ:ATVI) had its target price dropped by equities research analysts at Benchmark to $87.00 in a report issued on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 69.43% from the stock’s previous close.

A number of other brokerages have also recently commented on ATVI. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $88.00 price target on shares of Activision Blizzard in a research note on Wednesday, September 26th. Credit Suisse Group lowered their price target on Activision Blizzard from $85.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, November 9th. BidaskClub cut Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Oppenheimer lowered their price target on Activision Blizzard from $87.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, November 9th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $80.00 price target (down from $85.00) on shares of Activision Blizzard in a research note on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $73.29.

Activision Blizzard stock opened at $51.35 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.01 and a current ratio of 2.09. Activision Blizzard has a 1 year low of $43.71 and a 1 year high of $84.68. The stock has a market cap of $38.79 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, November 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, analysts forecast that Activision Blizzard will post 2.35 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. IMS Capital Management acquired a new stake in shares of Activision Blizzard during the 3rd quarter worth approximately $69,000. Asset Advisors Investment Management LLC purchased a new stake in shares of Activision Blizzard during the 3rd quarter worth $100,000. Ashburton Jersey Ltd purchased a new stake in Activision Blizzard in the second quarter valued at $107,000. Cornerstone Advisors Inc. raised its holdings in shares of Activision Blizzard by 29.6% in the third quarter. Cornerstone Advisors Inc. now owns 1,510 shares of the company’s stock valued at $126,000 after buying an additional 345 shares during the last quarter. Finally, Psagot Investment House Ltd. purchased a new stake in shares of Activision Blizzard in the third quarter valued at about $135,000. 89.66% 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. The company 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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