Activision Blizzard, Inc. (NASDAQ:ATVI) Shares Could Still Reach $58

Activision Blizzard (NASDAQ:ATVI) is up 16.1% to all-time highs after a record Q4 report where the company beat expectations and added a new $1B buyback program along with a higher dividend. Finally, Wedbush increased their price objective on shares of Activision Blizzard from $48.00 to $53.00 and gave the stock an "outperform" rating in a research report on Friday, November 4th.

Activision Blizzard, Inc. (ATVI) recently recorded 1.38 percent change and now at $39.73 is 51.2 percent away from its 52-week low and down -12.78 percent versus its peak. Studies indicate that the stock prices of firms with significant positive earnings surprises show above-average performance, while those with negative surprises have below-average performance. During the same period in the previous year, the business posted $0.83 EPS. GM right now sits at consensus rating of 2.70 while 6 analysts have advocated the shares as "BUY", 2 calls it an "OUTPERFORM" and 13 suggest "HOLD". The stock's price moved up its 200-day moving average of $26.82. Following the transaction, the chief executive officer now directly owns 69,583 shares in the company, valued at $2,789,582.47.

Activision also announced a two-year stock repurchase plan totaling $1 billion and raised its cash dividend by 15% to 30 cents a share. Activision Blizzard, Inc. (NASDAQ:ATVI) has a Return on Assets of 6.20%.

Activision said revenue from in-game content reached a record $3.6 billion in 2016, compared to the $1.6 billion in 2015, driven by "World of Warcraft" and "Overwatch". 9,390,760 shares of the company traded hands.

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Activision Blizzard, Inc.'s (ATVI) stock price escalated 1.38% to finalize at $39.73 throughout previous buying and selling session. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. (NASDAQ:ATVI) stock opened its trade at $40.10 and after floating in a range of $39.15 to $40.12, settled at $39.19. California State Teachers Retirement System increased its stake in Activision Blizzard by 7.6% in the second quarter.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum. TIAA CREF Investment Management LLC boosted its stake in shares of Activision Blizzard by 3.4% in the third quarter. The stock has reduced about -9.6% since it reported its last earnings. The company's quarterly performance represents an optimistic momentum of 25.54 percent, with a decline of -2.11 percent in the stock price over the last one month.

COPYRIGHT VIOLATION WARNING: This story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. Activision Blizzard said the amount of money spent per user of King's games, rose from past year and from the previous quarter. For the next 5 years, Activision Blizzard, expecting Growth of 20.65% per annum, whereas in the past 5 years the growth was 23.82% per annum. The company's institutional ownership is monitored at 89.2 percent.

Activision Blizzard is a worldwide pure-play online and console game publisher with leading market positions across all categories of the rapidly growing interactive entertainment software industry.

  • Douglas Reid