Wednesday, September 30, 2020

Activision Blizzard Inc. [ATVI] stock Reiterated by Needham analyst, price target now $90

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Activision Blizzard Inc. [NASDAQ: ATVI] gained 4.48% on the last trading session, reaching $79.59 price per share at the time. The company report on September 4, 2020 that Tony Hawk’s Pro Skater 1 and 2 Available Worldwide Now.

The Video Games That Helped Define Skate Culture Have Been Remastered to Engage and Reflect a Bigger, More Diverse Community.

Activision today announced the worldwide launch of its much-anticipated Tony Hawk’s™ Pro Skater™ 1 and 2, a remaster of the first two successful titles in the iconic, billion-dollar Tony Hawk video game franchise.

Activision Blizzard Inc. represents 771.00 million in outstanding shares, while the company has a total market value of $62.44 billion with the latest information. ATVI stock price has been found in the range of $77.26 to $80.00.

If compared to the average trading volume of 6.79M shares, ATVI reached a trading volume of 6979639 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Activision Blizzard Inc. [ATVI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATVI shares is $94.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATVI stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Activision Blizzard Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 02, 2020. While these analysts kept the previous recommendation, The Benchmark Company raised their target price from $77 to $85. The new note on the price target was released on June 29, 2020, representing the official price target for Activision Blizzard Inc. stock. Previously, the target price had yet another raise to $75, while Wells Fargo analysts kept a Overweight rating on ATVI stock.

The Average True Range (ATR) for Activision Blizzard Inc. is set at 2.62, with the Price to Sales ratio for ATVI stock in the period of the last 12 months amounting to 8.94. The Price to Book ratio for the last quarter was 4.48, with the Price to Cash per share for the same quarter was set at 8.23. Price to Free Cash Flow for ATVI in the course of the last twelve months was 30.61.

Trading performance analysis for ATVI stock

Activision Blizzard Inc. [ATVI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.49. With this latest performance, ATVI shares dropped by -3.25% in over the last four-week period, additionally plugging by 34.15% over the last 6 months – not to mention a rise of 42.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATVI stock in for the last two-week period is set at 45.11, with the RSI for the last a single of trading hit 42.52, and the three-weeks RSI is set at 47.29 for Activision Blizzard Inc. [ATVI]. The present Moving Average for the last 50 days of trading for this stock 81.26, while it was recorded at 79.71 for the last single week of trading, and 67.69 for the last 200 days.

Activision Blizzard Inc. [ATVI]: A deeper dive into fundamental analysis

Activision Blizzard Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 3.00.

Activision Blizzard Inc. [ATVI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Activision Blizzard Inc. posted 0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 39.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATVI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Activision Blizzard Inc. go to 24.41%.

An analysis of insider ownership at Activision Blizzard Inc. [ATVI]

There are presently around $53,875 million, or 91.00% of ATVI stock, in the hands of institutional investors. The top three institutional holders of ATVI stocks are: VANGUARD GROUP INC with ownership of 60,472,825, which is approximately 0.147% of the company’s market cap and around 0.20% of the total institutional ownership; FMR LLC, holding 56,412,848 shares of the stock with an approximate value of $4.49 billion in ATVI stocks shares; and BLACKROCK INC., currently with $4.31 billion in ATVI stock with ownership of nearly 4% of the company’s market capitalization.

663 institutional holders increased their position in Activision Blizzard Inc. [NASDAQ:ATVI] by around 67,133,983 shares. Additionally, 434 investors decreased positions by around 70,408,233 shares, while 113 investors held positions by with 539,360,336 shares. The mentioned changes placed institutional holdings at 676,902,552 shares, according to the latest SEC report filing. ATVI stock had 204 new institutional investments in for a total of 12,890,937 shares, while 77 institutional investors sold positions of 4,268,928 shares during the same period.

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