Activision Blizzard (ATVI) Received its Third Buy in a Row
After Wedbush and Credit Suisse gave Activision Blizzard (NASDAQ: ATVI) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Andrew Marok maintained a Buy rating on Activision Blizzard today. The company’s shares closed last Friday at $100.80, close to its 52-week high of $104.53.
Marok has an average return of 37.7% when recommending Activision Blizzard.
According to TipRanks.com, Marok is ranked #1687 out of 7331 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Activision Blizzard with a $113.30 average price target, a 10.1% upside from current levels. In a report issued on February 8, Stifel Nicolaus also maintained a Buy rating on the stock with a $118.00 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 $2.41 billion and net profit of $508 million. In comparison, last year the company earned revenue of $1.99 billion and had a net profit of $525 million.
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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.