Activision Blizzard (ATVI) is Reiterated by Stifel to Buy, Raises Price Target to $ 40

Activision Blizzard (ATVI) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 40 from a previous price target of $35 . Stifel advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Activision Blizzard. Activision Blizzard was Initiated by BofA/Merrill to “Neutral” on Mar 1, 2016. Shares were Reiterated by Mizuho on Feb 12, 2016 to “Buy” and Lowered the Price Target to $ 35 from a previous price target of $42 .Shares were Reiterated by Wedbush on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 40 from a previous price target of $47 .

On the company’s financial health, Activision Blizzard reported $0.83 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Feb 11, 2016. Analyst had a consensus of $0.86. The company had revenue of $2118.00 million for the quarter, compared to analysts expectations of $2195.63 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.94 EPS.

Activision Blizzard closed down -0.56 points or -1.65% at $33.41 with 44,87,159 shares getting traded on Monday. Post opening the session at $34.3, the shares hit an intraday low of $33.41 and an intraday high of $34.38 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 17, 2016, Eric Hirshberg (CEO, Activision Publishing) sold 119,148 shares at $32.44 per share price. According to the SEC, on Mar 8, 2016, Robert J Corti (director) sold 62,000 shares at $31.25 per share price. On Nov 9, 2015, Brian Hodous (Chief Customer Officer) sold 15,996 shares at $37.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Activision Blizzard Inc. is a developer and publisher of online personal computer (PC) video game console handheld mobile and tablet games. The Company offers games that operate on the Microsoft Corporation (Microsoft) Xbox One (Xbox One) and Xbox 360 (Xbox 360) Nintendo Co. Ltd. (Nintendo) Wii U (Wii U) and Wii (Wii) and Sony Computer Entertainment Inc. (Sony) PlayStation 4 (PS4) and PlayStation 3 (PS3) console systems. The Company also develops products spanning other genres including first-person action action/adventure role-playing simulation and strategy. It distributes interactive entertainment hardware and software products in Europe through its European distribution subsidiaries: Centresoft in the United Kingdom and NBG in Germany. The Company’s operating segments include Activision Publishing Inc. and its subsidiaries Blizzard Entertainment Inc. and its subsidiaries and Activision Blizzard Distribution.

Activision Blizzard

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