Published: Tue, February 12, 2019
Business | By Eloise Houston

Activision Blizzard, Inc. (ATVI) Has Over 37.96% Upside Potential

Activision Blizzard, Inc. (ATVI) Has Over 37.96% Upside Potential

Two sources familiar with the matter tell Yahoo Finance that Activision Blizzard initiated employee layoffs in its Santa Monica headquarters on Monday, although it's unclear how widespread the layoffs are at this time. Destiny 2's Forsaken expansion failed to meet Activision's sales expectations, and company stock took a significant hit after the ill-received announcement of the mobile-only Diablo: Immortal at Blizzcon in November. The firm's revenue was down 12.6% compared to the same quarter past year. The price target is the price an analyst believes the stock will achieve during their investment time horizon, which for most firms is 12 months. Compared to the same quarter a year ago, the firm's revenue was up by 21.15%. Icon Advisers Comm has invested 0.09% of its capital in Activision Blizzard, Inc.

When looking at valuations, Activision Blizzard, Inc. Activision Blizzard presently has a consensus rating of "Buy" and a consensus price target of $67.34. It increased, as 43 investors sold ATVI shares while 206 reduced holdings. (NASDAQ:ATVI) earned "Market Perform" rating by Oppenheimer on Tuesday, January 29. Lindbrook Capital LLC purchased a new position in Activision Blizzard in the 4th quarter worth approximately $37,000.

In context: In what's been a turbulent year for the publishing giant, seeing stagnating growth in key titles such as Overwatch and Hearthstone, as well as losing the Destiny IP, Activision is reportedly planning a restructuring effort aimed at increasing profitability. (NASDAQ:ATVI). Royal London Asset Management Ltd holds 0% or 301,408 shs in its capital. Following these latest developments, around 40.70% of Coty Inc. stocks are owned by institutional investors and hedge funds. 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. Activision Blizzard has a 52-week low of $42.53 and a 52-week high of $84.68. A stock with a beta more than 1 means high volatile and less than 1 means low volatile. Activision Blizzard, Inc. now has a market cap of $30.99B, while its P/E ratio stands at 25.43, while its P/E earnings growth sits at 4.33, with a beta of 0.88. As for a performance, the company's showed return of -6.79% since start of the year. The firm develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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