Jefferies Financial Group initiated coverage on shares of Activision Blizzard (NASDAQ:ATVI) in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $56.00 target price on the stock. Jefferies Financial Group also issued estimates for Activision Blizzard’s FY2021 earnings at $2.73 EPS.
A number of other research analysts have also weighed in on the stock. Piper Jaffray Companies set a $15.00 price objective on shares of BioCryst Pharmaceuticals and gave the company a buy rating in a research note on Monday, April 22nd. Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the company a buy rating in a research note on Tuesday, May 28th. Nomura lowered shares of Korea Electric Power from a buy rating to a neutral rating in a research report on Thursday, June 6th. Citigroup initiated coverage on shares of UBISOFT ENTMT S/ADR in a research report on Friday, June 7th. They set a buy rating on the stock. Finally, ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Fourteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $60.03.
Activision Blizzard stock opened at $47.20 on Thursday. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $84.68. The company has a market capitalization of $36.16 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.35 and a beta of 0.90. The firm has a fifty day simple moving average of $45.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Activision Blizzard will post 1.98 earnings per share for the current fiscal year.
In related news, insider Christopher B. Walther sold 11,333 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $47.91, for a total transaction of $542,964.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher B. Walther sold 2,333 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total transaction of $102,652.00. The disclosure for this sale can be found here. Insiders have sold 15,999 shares of company stock valued at $752,724 in the last 90 days. 1.29% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massey Quick Simon & CO. LLC purchased a new stake in Activision Blizzard during the first quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Activision Blizzard in the first quarter worth about $27,000. Thor Advisors LLC purchased a new position in shares of Activision Blizzard in the first quarter worth about $40,000. Wealthcare Advisory Partners LLC increased its stake in shares of Activision Blizzard by 51.5% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,030 shares of the company’s stock worth $48,000 after purchasing an additional 350 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of Activision Blizzard by 57.3% in the second quarter. Carroll Financial Associates Inc. now owns 1,082 shares of the company’s stock worth $51,000 after purchasing an additional 394 shares in the last quarter. Institutional investors and hedge funds own 86.84% 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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