Activision Blizzard (NASDAQ:ATVI) has been given a $58.00 price objective by analysts at Macquarie in a research report issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the stock. Macquarie’s price objective would suggest a potential upside of 6.34% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Stephens raised shares of Activision Blizzard from an “equal” rating to a “weight” rating and boosted their target price for the stock from $52.00 to $65.00 in a research note on Thursday, September 5th. ValuEngine raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. KeyCorp reaffirmed an “overweight” rating and set a $60.00 target price on shares of Activision Blizzard in a research note on Tuesday, July 30th. Nomura raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $64.00 in a research note on Thursday, September 12th. Finally, BMO Capital Markets raised shares of Activision Blizzard from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $43.00 to $60.00 in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Activision Blizzard currently has an average rating of “Buy” and an average target price of $59.45.

Shares of NASDAQ ATVI traded down $1.05 during midday trading on Friday, reaching $54.54. 8,215,901 shares of the company were exchanged, compared to its average volume of 7,939,254. The stock’s 50-day moving average price is $54.03 and its 200-day moving average price is $48.40. The stock has a market cap of $42.64 billion, a P/E ratio of 22.82, a PEG ratio of 2.15 and a beta of 0.85. Activision Blizzard has a one year low of $39.85 and a one year high of $74.58. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22.

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The company’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, equities research analysts anticipate that Activision Blizzard will post 2 EPS for the current year.

In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total transaction of $268,463.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian M. Stolz sold 134,845 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the sale, the insider now directly owns 58,563 shares in the company, valued at approximately $2,799,311.40. The disclosure for this sale can be found here. In the last three months, insiders sold 150,844 shares of company stock worth $7,266,020. 1.29% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ATVI. Fulton Bank N.A. grew its holdings in shares of Activision Blizzard by 19.0% during the second quarter. Fulton Bank N.A. now owns 20,136 shares of the company’s stock valued at $951,000 after buying an additional 3,208 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in Activision Blizzard by 57.3% in the second quarter. Carroll Financial Associates Inc. now owns 1,082 shares of the company’s stock valued at $51,000 after purchasing an additional 394 shares in the last quarter. Retirement Systems of Alabama grew its stake in Activision Blizzard by 0.4% in the second quarter. Retirement Systems of Alabama now owns 357,226 shares of the company’s stock valued at $16,861,000 after purchasing an additional 1,552 shares in the last quarter. Gulf International Bank UK Ltd grew its stake in Activision Blizzard by 3.3% in the second quarter. Gulf International Bank UK Ltd now owns 179,895 shares of the company’s stock valued at $8,491,000 after purchasing an additional 5,679 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new position in Activision Blizzard in the second quarter valued at about $1,505,000. 87.04% of the stock is currently owned by institutional investors and hedge funds.

About Activision Blizzard

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

See Also: What is Blockchain?

Analyst Recommendations for Activision Blizzard (NASDAQ:ATVI)

Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.