Activision Blizzard, Inc., together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products. The company also maintains a proprietary online gaming service, Battle.net that facilitates digital distribution of content, online social connectivity, and the creation of user-generated content. In addition, it operates esports leagues and offer digital advertising content; and provides warehousing, logistics, and sales distribution services to third-party publishers of interactive entertainment software, as well as manufacturers of interactive entertainment hardware products. The company's key product franchises include Call of Duty, World of Warcraft, Diablo, Hearthstone, Overwatch, Overwatch League, and Candy Crush. It serves retailers and distributors, including mass-market retailers, consumer electronics stores, discount warehouses, and game specialty stores through third-party distribution and licensing arrangements. The company is headquartered in Santa Monica, California.
Analyst Upgrades and Downgrades
ATVI has been the topic of a number of research reports. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 target price on shares of Activision Blizzard in a report on Wednesday, April 27th. Moffett Nathanson upgraded shares of Activision Blizzard from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a report on Wednesday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Activision Blizzard from $95.00 to $84.00 in a research report on Thursday, August 4th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Activision Blizzard currently has an average rating of "Hold" and a consensus target price of $94.73.
Activision Blizzard Stock Performance
Shares of ATVI opened at $80.51 on Friday. The company's fifty day moving average is $77.98 and its 200-day moving average is $78.86. Activision Blizzard has a 12 month low of $56.40 and a 12 month high of $86.90. The firm has a market cap of $62.98 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 3.51 and a beta of 0.51. The company has a quick ratio of 6.18, a current ratio of 6.18 and a debt-to-equity ratio of 0.20.
Activision Blizzard (NASDAQ:ATVI - Get Rating) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.38 by $0.09. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business posted $0.86 EPS. Activision Blizzard's quarterly revenue was down 14.6% on a year-over-year basis. Equities analysts expect that Activision Blizzard will post 2.42 EPS for the current fiscal year.
Insider Transactions at Activision Blizzard
In related news, CFO Armin Zerza sold 10,174 shares of the firm's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total value of $816,158.28. Following the transaction, the chief financial officer now directly owns 186,117 shares in the company, valued at approximately $14,930,305.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.