In a report released today, Laura Martin from Needham assigned a Buy rating to Activision Blizzard (ATVI), with a price target of $90.00. The company’s shares closed last Wednesday at $78.03.
According to TipRanks.com, Martin is a top 100 analyst with an average return of 19.1% and a 64.5% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, Nielsen Holdings, and World Wrestling.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Activision Blizzard with a $80.30 average price target, representing a 6.4% upside. In a report issued on June 25, KeyBanc also maintained a Buy rating on the stock with a $83.00 price target.
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Based on Activision Blizzard’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.79 billion and net profit of $505 million. In comparison, last year the company earned revenue of $1.83 billion and had a net profit of $447 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is neutral on the stock.
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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.
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