Atlantic Equities lifts Activision Blizzard Inc. [ATVI] price estimate. Who else is bullish?

Activision Blizzard Inc. [NASDAQ: ATVI] closed the trading session at $72.50 on 10/25/22. The day’s price range saw the stock hit a low of $72.445, while the highest price level was $72.985. The company report on October 14, 2022 that A Future Worth Fighting for: Blizzard Entertainment’s Overwatch® 2 Reaches Twenty-Five Million Players in First Ten Days.

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The sequel to the team-based shooter sets a new Overwatch record, with peak daily players almost triple that of the original game through its first ten days.

Overwatch 2, Blizzard Entertainment’s cross-platform and free-to-play team-based action game, has seen over twenty-five million heroes join the fight in the first ten days since its launch on Windows® PC via®, Xbox Series X|S, Xbox One, PlayStation®5, PlayStation®4, and Nintendo Switch™ consoles. The game has proven to be a global phenomenon, already achieving a daily player base spread near-even across EMEA, Asia, and the Americas that’s nearly triple the previous daily player peak from the original Overwatch.

The stocks have a year to date performance of 8.97 percent and weekly performance of 0.33 percent. The stock has been moved at -5.92 percent over the last six months. The stock has performed -2.46 percent around the most recent 30 days and changed -9.14 percent over the most recent 3-months.

If compared to the average trading volume of 5.57M shares, ATVI reached to a volume of 6575743 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $94.78 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 2.30. 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.

Atlantic Equities have made an estimate for Activision Blizzard Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 15, 2022. The new note on the price target was released on July 25, 2022, representing the official price target for Activision Blizzard Inc. stock. Previously, the target price had yet another raise from $54 to $95, while MKM Partners kept a Neutral rating on ATVI stock.

The Average True Range (ATR) for Activision Blizzard Inc. is set at 1.05, with the Price to Sales ratio for ATVI stock in the period of the last 12 months amounting to 7.48. The Price to Book ratio for the last quarter was 3.11, with the Price to Cash per share for the same quarter was set at 13.61. Price to Free Cash Flow for ATVI in the course of the last twelve months was 29.69 with Quick ratio for the last quarter at 6.20.

ATVI stock trade performance evaluation

Activision Blizzard Inc. [ATVI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.33. With this latest performance, ATVI shares dropped by -2.46% in over the last four-week period, additionally sinking by -5.92% over the last 6 months – not to mention a drop of -10.70% 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 38.04, with the RSI for the last a single of trading hit 39.32, and the three-weeks RSI is set at 38.13 for Activision Blizzard Inc. [ATVI]. The present Moving Average for the last 50 days of trading for this stock 76.02, while it was recorded at 72.65 for the last single week of trading, and 77.90 for the last 200 days.

Activision Blizzard Inc. [ATVI]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Activision Blizzard Inc. [ATVI] shares currently have an operating margin of +37.90 and a Gross Margin at +73.60. Activision Blizzard Inc.’s Net Margin is presently recorded at +30.66.

Return on Equity for this stock inclined to 16.54, with Return on Assets sitting at 11.21.

Activision Blizzard Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.20 and a Current Ratio set at 6.20.

Earnings per share (EPS) analysis for Activision Blizzard Inc. [ATVI] stock

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 10.85%.

Activision Blizzard Inc. [ATVI]: Insider Ownership positions

There are presently around $45,207 million, or 82.10% of ATVI stock, in the hands of institutional investors. The top three institutional holders of ATVI stocks are: BERKSHIRE HATHAWAY INC with ownership of 68,401,150, which is approximately 6.353% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 62,958,014 shares of the stock with an approximate value of $4.56 billion in ATVI stocks shares; and BLACKROCK INC., currently with $4.3 billion in ATVI stock with ownership of nearly -2.067% of the company’s market capitalization.

Positions in Activision Blizzard Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 542 institutional holders increased their position in Activision Blizzard Inc. [NASDAQ:ATVI] by around 37,633,736 shares. Additionally, 554 investors decreased positions by around 55,965,832 shares, while 198 investors held positions by with 529,942,843 shares. The mentioned changes placed institutional holdings at 623,542,411 shares, according to the latest SEC report filing. ATVI stock had 118 new institutional investments in for a total of 4,883,337 shares, while 109 institutional investors sold positions of 6,060,155 shares during the same period.


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