Activision Blizzard (ATVI) is Downgraded by MKM Partners to Neutral, Raises Price Target to $ 42

Activision Blizzard (ATVI) was Downgraded by MKM Partners to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 42 from a previous price target of $40 . Earlier the firm had a rating of “Buy ” on the company shares. MKM Partners advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on Activision Blizzard. Company shares were Reiterated by Barclays on Jun 16, 2016 to “Overweight”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .Company shares were Reiterated by The Benchmark Company on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 40.45 from a previous price target of $37.63 .

On the company’s financial health, Activision Blizzard reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.12. The company had revenue of $908.00 million for the quarter, compared to analysts expectations of $813.79 million. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Activision Blizzard closed down -0.62 points or -1.52% at $40.27 with 1,11,10,570 shares getting traded on Thursday. Post opening the session at $40.29, the shares hit an intraday low of $40.05 and an intraday high of $40.64 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jun 15, 2016, Michael Morhaime (Pres. & CEO-Blizzard Ent.) sold 1,150,000 shares at $38.15 per share price. According to the SEC, on May 24, 2016, Stephen G Wereb (Principal Accounting Officer) sold 71,775 shares at $37.56 per share price. On May 18, 2016, Thomas Tippl (Chief Operating Officer) sold 300,000 shares at $39.08 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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