Activision Blizzard expected to lay off hundreds of staff next week

Jeannie Matthews
February 13, 2019

The brokerage now has a buy rating on the stock. While price targets are useful, most investors find more value in an analyst's conviction level or in the ratio of upside to downside. This is based on a 1-5 numeric scale where Rating Scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell, 5.0 Strong Sell.

Activision Blizzard, Inc. (ATVI) recently closed with fall of -13.65% to its 20-Day "SMA". The average price target of $59.89 calls for a almost 49.31% increase in the stock price.

Epic Games's "Fortnite" has been a thorn in the side for Activision Blizzard. Now shares of Activision Blizzard (NASDAQ:ATVI) have an average brokerage recommendation (ABR) of 1.52 number of Recs in ABR is 22 however the company's industry rank by ABR is out of 255.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter. The stock was given Buy rating by The Benchmark Company in its report released on January 11th, 2019, the day when the price target on the stock was placed at $87.

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That's in stark contrast to the Activision Blizzard model, which, with the exception of some more casual games like "Candy Crush Saga", asks players to pony up as much as $60 to purchase a game upfront and also pay for additional content later.

The short ratio in the company's stock is documented at 1.40 and the short float is around of 2.23%. If $1.22 is reported, ATVI's profit will be $930.92M for 8.22 P/E. 159.57 % EPS growth is what analysts predict. $0.47 EPS was published for last quarter. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $84.68. "To help us reach our full potential, we have made a number of important leadership changes".

It's been a tough few months at the company. After making this transaction, the CEO, King owns a direct stake of 1,357,581 shares, worth $564,869, as per the last closing price. A company that manages their assets well will have a high return, while if manages their assets poorly will have a low return. Fidelity Management Research Co bought more COTY shares, increasing its portfolio by +6.41% during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Activision Blizzard by 4.9% in the 4th quarter. During previous trade 19.28 Million shares of Activision Blizzard (NASDAQ:ATVI) exchanged hands whereas on average nearly 11.99 Million shares has been traded. Hedge funds and other institutional investors own 90.62% of the company's stock. Under the Blizzard Entertainment umbrella, the company still rakes in millions from its World of Warcraft MMORPG. Indeed, investors will be looking to whether the Santa Monica, California-based company posts strong digital revenues and growing profit margins following months of stock declines.

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