Edward Jones slashes price target on Activision Blizzard Inc. [ATVI] – find out why.

Activision Blizzard Inc. [NASDAQ: ATVI] slipped around -2.1 points on Tuesday, while shares priced at $74.56 at the close of the session, down -2.74%. The company report on January 11, 2023 that Activision Blizzard to Release Fourth Quarter 2022 Financial Results on February 6, 2023.

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Activision Blizzard, Inc. (Nasdaq: ATVI) intends to release its fourth quarter 2022 results after the close of the market on Monday, February 6, 2023.

As announced on January 18, 2022, Microsoft plans to acquire Activision Blizzard for $95.00 per share in an all-cash transaction. The transaction is subject to customary closing conditions and completion of regulatory review. The transaction has been approved by the boards of directors of both Activision Blizzard and Microsoft and by Activision Blizzard’s stockholders.

Activision Blizzard Inc. stock is now -2.60% down from its year-to-date (YTD) trading value. ATVI Stock saw the intraday high of $75.955 and lowest of $74.42 per share. The company’s 52-week high price is 86.90, which means current price is +0.19% above from all time high which was touched on 01/09/23.

Compared to the average trading volume of 6.29M shares, ATVI reached a trading volume of 10039650 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 $92.29 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 2.00. 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.

Edward Jones have made an estimate for Activision Blizzard Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 06, 2022. The new note on the price target was released on November 28, 2022, representing the official price target for Activision Blizzard Inc. stock. Previously, the target price had yet another raise to $81, while Truist analysts kept a Buy rating on ATVI stock.

The Average True Range (ATR) for Activision Blizzard Inc. is set at 1.00, with the Price to Sales ratio for ATVI stock in the period of the last 12 months amounting to 7.96. The Price to Book ratio for the last quarter was 3.10, with the Price to Cash per share for the same quarter was set at 13.89. Price to Free Cash Flow for ATVI in the course of the last twelve months was 35.05 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 -3.44. With this latest performance, ATVI shares dropped by -3.22% in over the last four-week period, additionally sinking by -3.16% over the last 6 months – not to mention a rise of 16.19% 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 37.96, with the RSI for the last a single of trading hit 28.77, and the three-weeks RSI is set at 43.11 for Activision Blizzard Inc. [ATVI]. The present Moving Average for the last 50 days of trading for this stock 75.32, while it was recorded at 76.56 for the last single week of trading, and 76.80 for the last 200 days.

Activision Blizzard Inc. [ATVI]: Deeper insight into the 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 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 $46,870 million, or 83.10% 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 $4.48 billion in ATVI stocks shares; and BLACKROCK INC., currently with $4.39 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 February and at the time of the February reporting period, where 565 institutional holders increased their position in Activision Blizzard Inc. [NASDAQ:ATVI] by around 64,147,403 shares. Additionally, 508 investors decreased positions by around 51,207,641 shares, while 214 investors held positions by with 513,264,132 shares. The mentioned changes placed institutional holdings at 628,619,176 shares, according to the latest SEC report filing. ATVI stock had 113 new institutional investments in for a total of 11,391,673 shares, while 81 institutional investors sold positions of 1,426,795 shares during the same period.

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