Market Analysts see Activision Blizzard Inc. [ATVI] gaining to $95. Time to buy?

Activision Blizzard Inc. [NASDAQ: ATVI] slipped around -3.12 points on Friday, while shares priced at $73.47 at the close of the session, down -4.07%. The company report on November 16, 2022 that Blizzard Entertainment and NetEase Suspending Game Services in China.

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Certain games will no longer be available at end of license with NetEase on January 23, 2023.

Blizzard Entertainment, Inc. announced today that it will be suspending most Blizzard game services in mainland China due to the expiration of the current licensing agreements with NetEase, Inc. on January 23, 2023. This includes World of Warcraft®, Hearthstone®, Warcraft® III: Reforged, Overwatch®, the StarCraft® series, Diablo III®, and Heroes of the Storm®. Diablo Immortal® co-development and publishing is covered under a separate agreement between the two companies.

Activision Blizzard Inc. stock is now 10.43% up from its year-to-date (YTD) trading value. ATVI Stock saw the intraday high of $74.27 and lowest of $73.05 per share. The company’s 52-week high price is 86.90, which means current price is +18.52% above from all time high which was touched on 01/18/22.

Compared to the average trading volume of 6.11M shares, ATVI reached a trading volume of 9178816 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $92.58 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 2.10. 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.

Robert W. Baird have made an estimate for Activision Blizzard Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 22, 2022. The new note on the price target was released on November 15, 2022, representing the official price target for Activision Blizzard Inc. stock. Previously, the target price had yet another raise to $95, while Raymond James analysts kept a Outperform rating on ATVI stock. On September 15, 2022, analysts decreased their price target for ATVI shares from 95 to 84.

The Average True Range (ATR) for Activision Blizzard Inc. is set at 1.16, with the Price to Sales ratio for ATVI stock in the period of the last 12 months amounting to 7.74. The Price to Book ratio for the last quarter was 3.05, with the Price to Cash per share for the same quarter was set at 14.07. Price to Free Cash Flow for ATVI in the course of the last twelve months was 34.11 with Quick ratio for the last quarter at 5.80.

How has ATVI stock performed recently?

Activision Blizzard Inc. [ATVI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.46. With this latest performance, ATVI shares gained by 1.37% in over the last four-week period, additionally sinking by -5.80% over the last 6 months – not to mention a rise of 20.62% 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 48.06, with the RSI for the last a single of trading hit 46.22, and the three-weeks RSI is set at 47.88 for Activision Blizzard Inc. [ATVI]. The present Moving Average for the last 50 days of trading for this stock 73.72, while it was recorded at 74.97 for the last single week of trading, and 77.55 for the last 200 days.

Activision Blizzard Inc. [ATVI]: Deeper insight into the fundamentals

Activision Blizzard Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.80 and a Current Ratio set at 5.80.

Earnings analysis for Activision Blizzard Inc. [ATVI]

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 7.52%.

Insider trade positions for Activision Blizzard Inc. [ATVI]

There are presently around $46,482 million, or 83.30% of ATVI stock, in the hands of institutional investors. The top three institutional holders of ATVI stocks are: VANGUARD GROUP INC with ownership of 60,987,590, which is approximately -3.13% of the company’s market cap and around 0.10% of the total institutional ownership; BERKSHIRE HATHAWAY INC, holding 60,141,866 shares of the stock with an approximate value of $4.42 billion in ATVI stocks shares; and BLACKROCK INC., currently with $4.32 billion in ATVI stock with ownership of nearly -0.751% 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 555 institutional holders increased their position in Activision Blizzard Inc. [NASDAQ:ATVI] by around 60,918,525 shares. Additionally, 511 investors decreased positions by around 52,440,208 shares, while 223 investors held positions by with 519,304,866 shares. The mentioned changes placed institutional holdings at 632,663,599 shares, according to the latest SEC report filing. ATVI stock had 106 new institutional investments in for a total of 11,524,098 shares, while 79 institutional investors sold positions of 1,376,546 shares during the same period.


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