In a report released today, Andrew Uerkwitz from Oppenheimer maintained a Buy rating on Activision Blizzard (ATVI), with a price target of $68.00. The company’s shares closed last Monday at $58.47.
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 15.4% and a 55.1% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Electronic Arts, Axon Enterprise, and Turtle Beach.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Activision Blizzard with a $67.95 average price target, which is a 16.5% upside from current levels. In a report issued on March 24, Benchmark Co. also reiterated a Buy rating on the stock with a $72.00 price target.
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Based on Activision Blizzard’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.99 billion and net profit of $525 million. In comparison, last year the company earned revenue of $2.38 billion and had a net profit of $686 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATVI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Activision Blizzard, Inc. engages in the development and publication of interactive entertainment. It operates through the following segments: Activision, Blizzard, and King. The Activision segment develops and publishes interactive software products and entertainment content, particularly for the console platform. The Blizzard segment develops and publishes interactive software products and entertainment content, particularly for the PC platform. The King segment develops and publishes interactive entertainment content and services, particularly on mobile platforms, such as Google’s Android and Apple’s iOS. The company was founded in 1979 and is headquartered in Santa Monica, CA.
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