ATVI - Activision Blizzard, Inc.
55.20 -0.15 (-0.27%)
Pre-Market: 6:39AM EDT
| Previous Close | 55.78 |
| Open | 55.50 |
| Bid | 55.10 x 4000 |
| Ask | 55.97 x 2200 |
| Day's Range | 54.77 - 55.71 |
| 52 Week Range | 39.85 - 84.68 |
| Volume | 6,400,963 |
| Avg. Volume | 6,937,123 |
| Market Cap | 42.455B |
| Beta (3Y Monthly) | 0.92 |
| PE Ratio (TTM) | 25.27 |
| EPS (TTM) | 2.19 |
| Earnings Date | Nov 6, 2019 - Nov 11, 2019 |
| Forward Dividend & Yield | 0.37 (0.67%) |
| Ex-Dividend Date | 2019-03-27 |
| 1y Target Est | 56.41 |
- American City Business Journals
Esports network VENN set to launch in 2020 with $17 million seed funding
Gaming industry veterans Ariel Horn and Ben Kusin have partnered to create a new network focused on gaming and esports entertainment that is set to launch in mid-2020.
- InvestorPlace
Is Activision Blizzard Stock Set to Rally 16% to $65?
Shares of Activision Blizzard (NASDAQ:ATVI) have been slowly but surely making a comeback. Activision Blizzard stock is up 20% so far in 2019, thanks in large part to the near-24% rally it's experienced over the past month.Source: NPS_87 / Shutterstock.com That said, the stock is still well off its highs. For instance, ATVI stock is still down 30% over the past 12 months. Is now the time to buy Activision stock, while it's regaining some bullish momentum but it's still well below its former highs?According to several analysts, the answer may be yes. But no one is expecting ATVI to return to its 52-week high near $85, at least not yet.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Why Activision Blizzard Stock Can Reach $65September has been a busy month for the analysts who cover ATVI. On Sept. 4, BMO Capital Markets gave the shares a buy-equivalent rating and assigned a $60 price target to ATVI stock. * 7 Momentum Stocks to Buy On the Dip Since then, ATVI stock has received three more buy-equivalent ratings, all with $65 price targets. From current levels, that implies about a 16% gain by Activision Blizzard stock. While $65 is still a long way from the all-time high, a 16% rally is nothing to scoff at.Stifel, which issued one of the three recent bullish calls on Activision Blizzard stock, cited improving fundamentals in 2020 and easy comparisons next year. The company's upcoming BlizzCon event and the launch of its new Call of Duty game this fall could also be positive catalysts for ATVI stock. The firm added Activision Blizzard stock to its Select list.Also upgrading ATVI this month was Nomura, which assigned a "buy" rating and a $64 price target. The firm argued that Activision's recently launched World of Warcraft Classic game has "strong, above-average engagement" metrics. And like Stifel, Nomura believes the BlizzCon event can be a positive catalyst for ATVI stock. Valuing ATVI StockATVI has definitely had a tough 2019, and Activision Blizzard stock has paid the price. Analysts' average estimate calls for the company's revenue to sink 12.7% this year and for its earnings to drop nearly 16%. Ouch.But now Activision Blizzard stock is starting to gain some momentum among both investors and analystsThat's partly because we're coming into a seasonally strong time of the year. Video-game companies benefit from the holiday blitz, particularly when the economy is doing well.It also helps that there's only a few months left in 2019. As Stifel noted, the easier year-over-year comparisons in 2020 should help spark more optimism towards Activision Blizzard stock.For 2020, average estimates call for a roughly 10% rebound in sales and a 15.5% recovery in earnings. Analysts, on average, still expect the company's 2020 results to come in below its 2018 numbers, but a rebound is at least a step in the right direction. If ATVI builds on the momentum it's expected to have in 2020, Activision Blizzard stock could reach new highs. Trading Activision Stock Click to EnlargeActivision Blizzard stock has easily outperformed its closest peers over the past month, as it's jumped almost 24% during that time. That compares to the roughly 6% rally by Electronic Arts (NASDAQ:EA) and the approximately 2% decline by Take-Two Interactive (NASDAQ:TTWO) over the same period.However, going back further, the story has been different. For instance, all three names are up similar amounts so far in 2019. ATVI is up 20%, while EA and TTWO are up 26% and 25%, respectively. Over the past year though, ATVI's 30% decline is far worse than the 12% decline by EA and the 3% fall by TTWO.Activision Blizzard stock made an important move last month, pushing through $50 and rising into the mid-$50s. It's now consolidating between $55 and $57, as bulls try to work up the energy to push the shares even higher.Can they do it?Near $57 -- the top of the recent consolidation zone -- is the 61.8% retracement of the one-year range. If Activision Blizzard stock is able to push through that level, the 50% retracement at $62.26 is the next upward target. By reaching that level, ATVI stock would also fill the gap from all the way back in November.If ATVI stock can push through that zone, then the recently popular price target of $65 will be on the table.If the 61.8% retracement level act becomes resistance to Activision Blizzard stock, ATVI could drop. If that happens, look to see if the 20-day moving average can lift the name. Bulls desperately want to see ATVI stock stay above the $50 mark now, though.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Momentum Stocks to Buy On the Dip * 7 Dow Titans Breaking Higher * 5 Growth Stocks to Sell as Rates Move Higher The post Is Activision Blizzard Stock Set to Rally 16% to $65? appeared first on InvestorPlace.
- Zacks
Take-Two's (TTWO) Borderlands 3 Launch Boosts Gaming Lineup
Take-Two (TTWO) is expected to benefit from portfolio strength with the launch of Borderlands 3 despite intensifying competition.
- Zacks
Electronic Arts Expands Portfolio With the Release of NHL 20
Electronic Arts (EA) is expected to benefit from portfolio strength with the release of NHL 20 despite intensifying competition.
- InvestorPlace
Why Activision Blizzard Stock Is Finally Rebounding
In retrospect, the recent rally of Activision Blizzard (NASDAQ:ATVI) stock shouldn't be the least bit surprising. Activision Blizzard stock struggled last year, but the selloff of Activision Blizzard stock was much greater than the proverbial crime ATVI had committed. A rebound was largely inevitable, particularly once analysts got on board.Source: NPS_87 / Shutterstock.com Although ATVI stock is now overbought and ripe for a little bit of profit-taking, a new, bullish outlook has been established that replaces the older, pessimistic one.In other words, analysts' upgrades and price target hikes are good reasons to put Activision Blizzard stock back on your radar.InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Excessive Punishment of ATVI StockJust a little over a year ago, video-game publisher Activision Blizzard could seemingly do no wrong. In 2018, ATVI stock reached what would eventually be a record high, and it had proven to be one of the top trades of 2017 and 2018.Then it all unraveled. A combination of lackluster demand for its newest Call of Duty entry, the strength of the hit online game Fortnite, a poor holiday-season outlook and the fact that its World of Warcraft game wouldn't be revised in 2019 all contributed to a tumble of more than 50% by Activision Blizzard stock.Other, more philosophical blunders were also made, such as failing to keep a finger on the pulse of how gamers are buying their titles and what sort of games they want.It all made Activision Blizzard stock an easy target for short sellers and bearish analysts. Indeed, the surprisingly poor numbers and the ensuing downgrades caused ATVI stock and the shares of its rivals, Electronic Arts (NASDAQ:EA) and Take-Two Interactive Software (NASDAQ:TTWO), to drop sharply.Now the opposite scenario appears to be unfolding. What They Said and What It Means"Going forward, ATVI should benefit from lapsed players coming back to games like Call of Duty or Overwatch as excitement around Fortnite cools," wrote BMO Capital's Gerrick Johnson in the note accompanying his upgrade of Activision Blizzard stock. Gerrick goes on to say, "Also, the idea that Fortnite exposed a new generation of gamers (including many females) to the shooter genre could be an added tailwind for ATVI."Also bullish on ATVI stock recently was Instinet analyst Andrew Marok. He upgraded ATVI stock from "Neutral" to "Buy,",contending that the recent "launch of World of Warcraft Classic has driven strong, above-expectations engagement in the franchise."Stephens analyst Jeff Cohen just upgraded Activision Blizzard stock as well, pointing out the potential of its upcoming Call of Duty title and saying "We believe 2019 numbers are now de-risked due to the successful launch of World of Warcraft Classic and the announcement of a Nintendo Switch port for Overwatch."The common themes are crystal-clear.The real underpinnings for more gains by Activision Blizzard stock, however, transcend the words. Look at the bigger picture, and specifically, the timing and speed at which that picture is improving. It's all falling into place at the same time for ATVI, and that provides a powerful, positive, upward push.Johnson even acknowledged as much, noting to investors "we are increasing the valuation multiple (on Activision Blizzard stock ) to 20x from 17x. As investors get more comfortable with the turnaround story and as new catalysts develop, we believe the company's valuation multiple will expand." The Bottom Line on Activision Blizzard StockActivision Blizzard isn't just the beneficiary of improving sentiment, to be clear. ATVI has thought a great about the business of designing and then selling video games.It knows it has to push its way deeper into eSports. It also knows it has to respect and even fear the rise of mobile gaming and independently-developed titles. It knows the days of disc-based and cartridge-based sales are numbered, and that they will be replaced by digital downloads, which opens the door to all sorts of competition.It's addressing those challenges though. For example, it's ramping up its eSports efforts, leveraging Overwatch. The company has tapped ratings agency Nielsen Holdings (NYSE:NLSN) to measure the fiscal benefit of sponsoring eSports events, which is a hint of a growing monetization push.Still, more than anything else, Activision Blizzard stock is compelling again, mostly because investors are starting to believe in it again.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Big IPO Stocks From 2019 to Watch * 7 Discount Retail Stocks to Buy for a Recession * 7 Stocks to Buy Benefiting From Millennial Money The post Why Activision Blizzard Stock Is Finally Rebounding appeared first on InvestorPlace.
- MarketWatch
Activision and 3 more momentum stocks to watch
Activision Blizzard (ATVI) rose 54 cents to $55.45 on 10.9 million shares Thursday, more than 1 1/2 times its average volume. The move, on an analyst upgrade of the electronic gaming company, popped the stock to as high as $57.52 intraday, above lateral resistance, before it backed off. Lattice Semiconductor (LSCC) jumped 88 cents, or 4.3%, to $21.01 on no news.
- Zacks
Activision Blizzard's Call of Duty: Modern Warfare Now in Beta
Beta of Activision Blizzard's (ATVI) upcoming Call of Duty: Modern Warfare game is now available exclusively for PlayStation 4 users.
- Investor's Business Daily
Is Activision Blizzard Stock A Buy Right Now?
Activision stock is down as gamers move to mobile and even free games. Here is what the fundamentals and technical analysis say about buying ATVI stock now.
- Business Wire
Call of Duty: Modern Warfare Multiplayer Beta Starts Today
Today, the highly-anticipated Call of Duty®: Modern Warfare® beta* kicks-off for PlayStation 4 fans to get hands-on with an early look of the game’s critically-acclaimed multiplayer. Throughout the weekend, Infinity Ward will be logging valuable feedback and gameplay information ahead of the game’s global launch on October 25.
- Barrons.com
Activision Blizzard Stock Keeps Rising as 2 More Analysts Join the Bullish Parade
Shares of the videogame maker are up 20% in the past month, as Wall Street gets more bullish about World of Warcraft Classic and Call of Duty: Modern Warfare
- Benzinga
Nomura Upgrades Activision Blizzard, Bullish On 'WoW Classic' And 'Overwatch'
Marok said last month’s launch of "World of Warcraft Classic" has driven “strong, above-expectations engagement,” and "Overwatch" has added new features and a launch on Nintendo Switch. “This provides a much more favorable backdrop heading into November’s BlizzCon, which we expect will see the reveal of a "World of Warcraft" expansion for 2020 release and at least one of "Diablo 4" (more likely) or "Overwatch 2," which are both in development,” he wrote in a note. Marok also likes a positive initial review reception for the new "Modern Warfare" game launching next month, among other game-specific tailwinds he sees for the company.
- Zacks
Disney Rumored to Offload FoxNext Ahead of Disney+ Launch
Disney (DIS) is planning to divest FoxNext as it is reluctant to re-enter the highly competitive mobile gaming market ahead of the Disney+ launch.
- InvestorPlace
Activision Blizzard Stock’s Rebound Will Run Out of Steam
Gaming stocks are finally showing a little life again. After a dreadful couple of quarters, the gaming names have started to recover from their worst levels. Activision Blizzard (NASDAQ:ATVI) stock, in particular, is back to the $56 range after reaching $40 earlier this year.Source: Lauren Elisabeth / Shutterstock.com Is the optimism justified? Some analysts and traders are excited to see Activision Blizzard stock benefiting from product launches and events that will build engagement with the company's audience. Other observers, however, see Activision as a floundering company that has not achieved much in the way of long-term strategic goals.Which of these viewpoints will play out for ATVI stock over the next year?InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dueling AnalystsAnalysts have taken opposite stances on ATVI stock so far this month. Stifel just raised its price target for Activision Blizzard stock from $57 to $65 last week. It did this because the company had poor sales figures last year. This, in turn, sets up strong comparisons for Activision going forward. Stifel noted the upcoming release of the next "Call of Duty" game along with the BlizzCon event as positive catalysts to help give the ATVI stock price a boost.While Stifel sees a clear path of short-term upside for Activision Blizzard stock, Cowen's Doug Creutz disagrees. He says that potential BlizzCon buzz is already priced into ATVI stock, given the recent run in Activision's share price. Meanwhile, Creutz put a damper on the "World of Warcraft Classic" excitement, saying that the enthusiasm will be difficult to monetize. * 10 Battered Tech Stocks to Buy Now Creutz values ATVI stock at just $48 per share. That'd be 15% downside from the current share price. He says that while Activision has some interesting opportunities coming up, the company has a lot to prove, given its poor organic growth performance over the past decade. Is Activision's Long-Term Strategy Working?As Creutz noted, Activision Blizzard stock has not been a great long-term performer. That's in part because management hasn't fully adapted to today's changing gaming landscape. They have made some reasonable moves, such as acquiring the King studio for mobile gaming.Overall, however, it seems they are a little short in terms of innovation. With "Call of Duty," for example, how long will they keep going with the one release a year model that doesn't change up the formula too much? "Call of Duty" sales have been declining in recent years -- there's only so much you can get from a brand before people tire of it.More broadly, Activision still relies heavily on single-time game purchases, which goes against the grain. Investors want more subscription or downloadable content recurring revenue streams. It's achieved those more favorable revenue splits within the Blizzard and King divisions. Unfortunately, those are not where Activision's blockbuster new games are coming from, and within that category, rivals like "Fortnite" continue to outshine Activision's content. Activision Blizzard Stock ValuationOn the one hand, you can certainly defend Activision's financial performance in recent years. Revenues, for example, are up from $4.6 billion in 2013 to $7.1 billion in the most recent year. Even accounting for the King acquisition, Activision has certainly been able to expand its overall business. The company hasn't let the growth of the gaming industry completely pass it by. Rivals like EA (NASDAQ:EA) and Take-Two (NASDAQ:TTWO) have outperformed ATVI stock, however.Activision's skeptics, however, would note that annual operating income is only up from $1.5 billion to $2 billion over the same stretch. Ideally, you'd expect more of that revenue growth to filter down to the bottom line. That's because digital transactions, subscriptions and micro-transactions/DLC content were all supposed to boost profit margins. Yet, Activision hasn't seen margins really explode as it has scaled up.In any case, Activision Blizzard stock is currently trading for 26x trailing earnings. That's not cheap, particularly for a hit-centered business. As Activision moves more to recurring revenues, it should be able to sustain a higher valuation ratio. Still, 26x earnings is quite steep. Analysts have forward earnings at a consensus 22.5x, which is much more reasonable.But those forward earnings estimates, in turn, require upcoming game launches to deliver on expectations. InvestorPlace's Luke Lango makes a solid argument for how Activision could have a stellar 2020. However, management will have execute before the market is going to reward Activision Blizzard stock with a much higher share price. My Verdict on ATVI StockIf you bought Activision Blizzard stock in 2017 or 2018, you might be tempted to argue that ATVI stock is still cheap here. After all, it hit $85 last year, so $56 must be a deal, right?But I don't think it's that simple. Activision, and the rest of the gaming stocks, got wildly overvalued last year. The sector faced reality earlier this year, with ATVI stock bottoming at $40. Since then, shares have rebounded more than 30% off the lows. That's plenty of upside, given the company's uncertain operating performance. Don't let the discount to last year's share price fool you. At 26x earnings, Activision Blizzard stock still comes with plenty of risk.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Battered Tech Stocks to Buy Now * 7 Strong-Buy Stocks Hedge Funds Are Buying Now * The 7 Best Penny Stocks to Buy The post Activision Blizzard Stock's Rebound Will Run Out of Steam appeared first on InvestorPlace.
- Investor's Business Daily
Dow Jones Today Turns Red After China Tariffs, ECB Stimulus Boost; Activision, Visa Stock Rise
Visa stock ran on the Dow Jones today, as LKQ and Activision lead as stock turn mixed early Thursday, despite a positive ECB vote and fresh trade war news.
- MarketWatch
Activision Blizzard stock gains after Instinet upgrade
Shares of Activision Blizzard Inc. are up 3.1% in Thursday trading after Instinet analyst Andrew Marok upgraded the stock to buy from neutral. "Last month's launch of 'World of Warcraft Classic' has driven strong, above-expectations engagement in the franchise (Twitch-record viewership, long wait times for matches)," Marok wrote. "In addition, 'Overwatch' has recently added new features (Workshop, role locks for more dynamic competitive matches) and last week announced a launch on the Nintendo Switch." He sees this leading to a favorable setup ahead of the company's BlizzCon convention in November, when the publisher is expected to reveal a 2020 "World of Warcraft" expansion and "at least one of" "Diablo 4" or "Overwatch 2." Activision's stock is up 26% in the past three months as the S&P 500 has climbed 4.2%.
- Investing.com
Stocks - Wall Street Rises as Trump Delays China Tariffs; ECB Cuts Rates
Investing.com - Wall Street rose on Thursday after U.S. President Donald Trump delayed an expected tariff hike on Chinese imports, while the European Central Bank cut interest rates and re-introduced its purchasing buyback program in a bid to boost economic growth in the eurozone.
- TheStreet.com
[video]Activision Blizzard Shares Activate on Analyst Upgrade
Activision Blizzard shares receive an upgrade from analysts at Nomura Instinet, who note its recent and upcoming game launches are generating positive sales and buzz.
- Investing.com
Stocks - Hertz, Activision Blizzard Rise Permarket; Oracle Falls
Investing.com - Stocks in focus in premarket trading on Thursday:
- PR Newswire
MTN DEW®, MTN DEW® AMP® GAME FUEL® And DORITOS® Join Activision To Celebrate Call of Duty®: Modern Warfare®
PURCHASE, N.Y., Sept. 10, 2019 /PRNewswire/ -- Bravo six, going dark. MTN DEW, MTN DEW AMP GAME FUEL and DORITOS today are joining forces with Activision's celebrated Call of Duty franchise, in time for the highly anticipated release of Call of Duty®: Modern Warfare®. As part of the groundbreaking program, players will be able to unlock in-game rewards inside Modern Warfare with the purchase of any participating MTN DEW AMP GAME FUEL, MTN DEW or DORITOS products, simply by entering unique codes found on the packaging.
- TipRanks
3 Tech Stocks Rising Fast on Good News
Good news is always welcome, and nowhere more so than in the stock market. And while the markets were choppy in August, they have turned around in September. Since August 23, when it hit bottom, the S&P 500 has gained 131 points, or 4.6%. Optimism being cumulative, momentum is gaining as we head into autumn.Recent developments in the US-China tariff conflict may be contributing to the market’s upbeat outlook. President Trump initiated a new round of tariffs on September 1, and China retaliated in turn – this was after attempts to broker new talks broke down. Michael Hewson, chief market analyst from CMC Markets, summed up Wall Street’s take on the developments with wry humor: “Putting to one side the fact that these talks were supposed to be happening this month, and the fact that this has been a familiar pattern for two years now, markets still prefer to take an optimistic view.”Investors love to hear what’s going right, and for which stocks – it shows them where to put their money. One of the benefits TipRanks offers is a comprehensive database of top financial experts, including their latest stock reviews and ratings. We’ve dipped into that database, using the Trending Stocks tool to find three tech stocks that are generating buzz on recent positive news. AT&T, Inc. (T)This is an “old reliable” member of the NYSE. Historically a monopoly in the telephone business, AT&T was broken up in the early ‘80s under antitrust laws. In its current incarnation, the company remains a giant in the telecommunications industry, and is still the largest provider of landline and mobile phone services in the United States. T is also one of the market’s most reliable dividend stocks, with a high 5.52% yield and a long history of prioritizing shareholder returns.With that background, and the prospects of increased income from content streaming, it’s no wonder that T would attract attention from top analysts – and hedge funds. Elliot Management, the seventh largest hedge at $35 billion in AUM, recently announced yesterday a $3.2 billion stake in AT&T. In a letter to the company, the fund said: “Elliott believes that through readily achievable initiatives — increased strategic focus, improved operational efficiency, a formal capital allocation framework, and enhanced leadership and oversight — AT&T can achieve $60+ per share of value by the end of 2021.” Should AT&T match Elliot’s performance expectations, that would be a 62% upside from the current share price.The news from Elliot prompted a 1.4% jump in T’s share price. This came after the stock had risen 5.6% since August 23, the S&P 500’s most recent trough. The stock has outperformed the broader index’s 4.6% gains since that date.5-star analyst Colby Synesael, writing for Cowen on Sept 6, before Elliot’s announcement, noted, “AT&T shares have moved up roughly 24% this year but we believe there is more room to the upside as the company continues to execute against its 2019 guidance. Potential asset sales including some Latin American and tower portfolios could be used to pay down debt and further de-risk the story.” Synesael gives T shares a $40 price target, indicating confidence in an upside potential of 8.7%.Citigroup analyst Michael Rollins agrees that T shows potential for mid-term gains. He raised his price target from $37 to $42, and said, “We expect AT&T to remain in transition throughout 2019… the recent investments in the wireless strategy are more likely to help its competitive positioning for 2020.” His new price target implies a 14% upside to the stock.Overall, AT&T has a Strong Buy from the analyst consensus, based on 6 buy and 2 hold ratings given in the last three months. The recent share price gains have pushed T just above its average price target – but the most recent reviews show that the Street’s analysts are starting to revise that price target. Roku, Inc. (ROKU)Roku, the online television streaming service, is riding high on the rapidly growing popularity of ad-free content streaming. The stock went public two years ago, and for 2019 is showing a whopping 425% year-to-date gain. ROKU’s recent performance has pushed share price to 23% above its average price target.That fast rise is getting notice from Wall Street’s top analysts. Writing from SunTrust Robinson yesterday, Matthew Thornton raised his firm’s price target on ROKU by 171%, more than doubling the outlook to $163. He wrote, “We remain positive on Roku’s execution, fundamentals, and strategic value, and our concern over the company’s 2019 outlook versus consensus has kept us incorrectly on the sidelines.” He does point to the stock’s high valuation, however, as a reason to delay buying. He gives the stock a Hold rating for now.Also writing on Roku yesterday was 5-star analyst Tom Forte, of D.A. Davidson. Forte reiterated his Buy on the stock, with a $185 price target indicating confidence in a 15% upside to the stock. In his comments, Forte specifically noted Roku’s licensing efforts with TV manufacturers, saying, “Roku works with 11 brands, as the company's TV's are manufactured and sold by Roku TV brand licensees, all running its operating system (OS), and leveraging its hardware reference design.”Roku has a Moderate Buy rating from the analyst consensus, based on 7 buys, 5 holds, and 1 sell from the past three months. Concerns over the stock’s high valuation are cited as reasons to hold back, while optimism on the company’s prospects and overall performance underly the bulls. The current share price is $160. Roku is scheduled to report annual earnings on November 6. Activision Blizzard (ATVI)Activision has had a difficult time regaining traction in the stock markets after its sharp decline in the second half of 2018. The stock was essentially range-bound between $40 and $50 from November last year until this past August. However, the video game maker saw two recent pieces of good news and has popped 9% since September 2, double the S&P's gains.The first boost came on September 4, when BMO Capital upgraded its rating from Neutral to Buy. The second came yesterday, when Stifel placed ATVI shares on its “select list” of stocks to buy.Writing for BMO, Gerrick Johnson set a $60, a 40% from his previous target of $43. In his comments, he said, “We are increasing our target owing to two main factors. First, we are increasing our 2020 earnings-per-share estimate to $3 from $2.50, based on a higher conviction level that investments in core games like Call of Duty and World of Warcraft will generate an improvement in performance.“Second, we are increasing the valuation multiple to 20x from 17x. As investors get more comfortable with the turnaround story and as new catalysts develop, we believe the company's valuation multiple will expand.”Johnson’s new price target suggests an upside of 8.7% from the current share price.The next bump for Activision came when 5-star Stifel analyst Drew Crum, placed ATVI on his firm’s select list and said, “The stock currently trades at around 22 times forward earnings, above the five-year average. However, with improving fundamentals returning in 2020 (and beyond), valuations should start to look more reasonable. This year’s Call of Duty installment, along with the possibility of more exciting product news coming this fall, should help.” Crum’s price target of $65 implies an upside potential of 18%.Overall, ATVI keeps a Strong Buy from the analyst consensus, based on 11 buys and 3 holds assigned in the last three months. Shares are priced at $55.10, and the average price target of $56.36 gives the stock a 2.2% upside potential. ATVI gained 1% in yesterday’s trading.Visit the Trending Stocks page at TipRanks, to find out which stocks Wall Street’s top analysts are looking at now.
- American City Business Journals
Overwatch League confident in using different audience metrics
Overwatch League is working with Nielsen to make its viewership metrics compatible with traditional sports, helping sponsors and investors to feel more confident in the data from the property.
- Barrons.com
Activision Blizzard Stock Is a Buy Because Earnings Will Get Better, Analyst Says
Stifel analyst Drew Crum, who has a Buy rating on the shares, boosted his price target by $7 to $65 on Monday. The reason, according to Crum, is the prospect of Activision improving earnings performance in 2020 after a scaled-back 2019. Wall Street expects earnings of $2.19 per share this year, down from $2.59 a year ago, then a move to $2.52 next year and growth thereafter.
- Investopedia
Play for Gains in Mobile Gaming Stocks
Growing user demand continues to support mobile gaming stocks. These trading tactics could help you play three industry leaders.
- InvestorPlace
Renewed Interest in Its Catalog and Future Bode Well Activision Stock
Much like the hero of a classic video game, Activision Blizzard (NASDAQ:ATVI) has undergone an epic journey, struggled mightily, and ultimately appears to be staging a comeback from the depths of despair or at least that's what longtime investors in Activision stock are hoping for.Source: Piotr Swat / Shutterstock.com Truth be told, you don't have to be a gamer yourself to partake of the profits in Activision Blizzard stock; it's a solid company on the rebound with a well-known video-game franchise reboot and an analyst upgrade in its favor. Mapping out a Comeback for Activision StockAdventure gamers understand the importance of mapping out a plan of attack, and for Activision Blizzard stock investors, that means checking the long-term price action of the shares. Amazingly, the ATVI stock price has steadily climbed from around $11 in 2012 to a peak price of $84.68 a year ago - only to deflate to the $40 level in February.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYet, in what could turn out to be a historic turnaround story in the annals of the gaming market, ATVI has retraced back up to the mid-fifties and investors are starting to lean bullish once again on this decades-old company. That's exactly the kind of game I like to play as a value investor, and with a P/E ratio at around 25, the Activision Blizzard stock price remains competitive among its peers. * 7 Deeply Discounted Energy Stocks to Buy I'm not the only one in the bull camp on ATVI stock, it seems, as BMO Capital Markets analyst Gerrick Johnson has recently awarded Activision Blizzard stock a major upgrade. More specifically, Johnson moved ATVI up a notch from to market perform to outperform while raising his price objective from $43 to $60 - a sizable improvement in outlook, to say the least. Bringing Back the ClassicsIf you're wondering why BMO so sharply increased their price target, Johnson has provided a succinct but convincing rationale:We are increasing our 2020 earnings-per-share estimate to $3 from $2.50, based on a higher conviction level that investments in core games like Call of Duty and World of Warcraft will generate an improvement in performance.As heartened as I am by the prospect of a major EPS boost, it's the familiar game names that encourage me the most. Long-standing franchises like Call of Duty and World of Warcraft resonate deeply with gaming addicts from all walks of life, and their resurrection is precisely what Activision Blizzard needs now to take the Activision stock price back to all-time highs.Indeed, the Aug. 26 launch of World of Warcraft: Classic proved to be a milestone, not just for the company but for the gaming market as a whole: Amazon (NASDAQ:AMZN) game-streaming platform Twitch was practically smoking with overworked servers as 6.1 million WoW (as it's commonly abbreviated) fans tuned in for the premiere.At the event's pinnacle, 1.1 million visitors viewed this event simultaneously. This may be a baffling number to you non-gamers out there, but WoW fans will completely understand.In any case, Activision Blizzard's comeback isn't structured solely around one game, as the company will also focus its efforts on other popular names like Call of Duty and Overwatch as well as more niche-specific fare like Hearthstone and Diablo. With all of that, 2019 could be a transition - and renewed hope - for the company and shareholders as Activision Blizzard endeavors to restructure its business model, bolster its subscriber count, and create enhanced shareholder value going forward. The Takeaway for Activision StockGames like Call of Duty and World of Warcraft aren't for everybody, and the same could be said of Activision stock, which is as niche as the company it represents. Nonetheless, it can't be denied that Activision Blizzard's return to the great games of the past is more than just a nostalgia rush, it's a rejuvenating force for a company that, if I may say so, knows how to play the game.As of this writing, David Moadel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 3 Artificial Intelligence Stocks to Buy * 7 Industrial Stocks to Buy for a Strong U.S. Economy * 3 Beaten-Down Bank Stocks to Buy and Hold for the Long Term The post Renewed Interest in Its Catalog and Future Bode Well Activision Stock appeared first on InvestorPlace.
- Motley Fool
Activision's Strong Slate of Game Releases Nets Back-to-Back Upgrades
Has the tide finally turned for the beleaguered game publisher?
