Published On: Wed, Sep 7th, 2016

Activision Blizzard Inc. (ATVI) Price Target Raised to $48.00

Activision Blizzard Inc. (NASDAQ:ATVI) had its price objective upped by equities researchers at Mizuho from $46.00 to $48.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Mizuho’s target price would indicate a potential upside of 10.32% from the company’s previous close.
In other Activision Blizzard news, CEO Michael Morhaime sold 163,400 shares of the business’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $37.77, for a total transaction of $6,171,618.00. Following the completion of the transaction, the chief executive officer now owns 370,065 shares in the company, valued at approximately $13,977,355.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dennis M. Durkin sold 119,937 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $41.33, for a total value of $4,956,996.21. Following the transaction, the chief financial officer now owns 431,425 shares of the company’s stock, valued at approximately $17,830,795.25. The disclosure for this sale can be found here.
Several other equities analysts have also weighed in on the company. Vetr lowered Activision Blizzard from a “hold” rating to a “sell” rating and set a $40.89 price objective on the stock. in a research note on Monday. Argus reaffirmed a “buy” rating on shares of Activision Blizzard in a research note on Thursday, August 25th. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Activision Blizzard in a research note on Tuesday, August 23rd. Jefferies Group reaffirmed a “buy” rating on shares of Activision Blizzard in a research note on Monday, August 22nd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $38.00 price target on shares of Activision Blizzard in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $43.36.

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Other hedge funds and institutional investors have made changes to their positions in the company. Bridgeway Capital Management Inc. acquired a new position in shares of Activision Blizzard during the fourth quarter worth about $31,713,000. Eminence Capital LP raised its position in shares of Activision Blizzard by 6.6% in the fourth quarter. Eminence Capital LP now owns 3,189,121 shares of the company’s stock worth $123,451,000 after buying an additional 196,448 shares during the period. Impala Asset Management LLC raised its position in shares of Activision Blizzard by 80.3% in the fourth quarter. Impala Asset Management LLC now owns 230,980 shares of the company’s stock worth $8,941,000 after buying an additional 102,838 shares during the period. Jabre Capital Partners S.A. acquired a new position in shares of Activision Blizzard during the fourth quarter worth about $3,871,000. Finally, Svenska Handelsbanken AB publ acquired a new position in shares of Activision Blizzard during the fourth quarter worth about $1,061,000.
Activision Blizzard (NASDAQ:ATVI) traded up 1.66% during midday trading on Tuesday, hitting $43.51. The stock had a trading volume of 13,585,958 shares. The company has a 50-day moving average price of $40.99 and a 200-day moving average price of $37.23. The company has a market cap of $32.26 billion and a price-to-earnings ratio of 43.82. Activision Blizzard has a 12-month low of $26.49 and a 12-month high of $43.69.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm earned $1.57 billion during the quarter, compared to analyst estimates of $1.44 billion. The business’s revenue for the quarter was up 112.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. Equities analysts anticipate that Activision Blizzard will post $1.97 EPS for the current year.
Activision Blizzard, Inc is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. The Company operates through Activision Publishing, Inc (Activision) and its subsidiaries, Blizzard Entertainment, Inc (Blizzard) and its subsidiaries, and Other segments.

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