Barclays Maintains Activision Blizzard to Overweight with Price Target $42.00

Brokerage firm Barclays Maintains its rating on Activision Blizzard(NASDAQ:ATVI). In a research note issued to the investors, the brokerage major Raises the price-target to $42.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Jun 16, 2016.

In a different note, BMO Capital said it Initiates Coverage on Activision Blizzard, according to a research note issued on Apr 27, 2016. The shares have been rated ‘Market Perform’ by the firm. On Mar 30, 2016, Hilliard Lyons said it Downgrades its rating on Activision Blizzard. The shares have been rated ‘Long-term Buy’ by the firm.

Activision Blizzard (ATVI) shares turned negative on Tuesdays trading session with the shares closing down -0.03 points or -0.08% at a volume of 71,56,128. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.23. The peak price level was also seen at $39.23 while the days lowest was $38.56. Finally the shares closed at $38.66. The 52-week high of the shares is $39.99 while the 52-week low is $24.04. According to the latest information available, the market cap of the company is $28,540 M.

Activision Blizzard(ATVI) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $908.00M. Analysts had an estimated revenue of $811.92M. Earnings per share were $0.23. Analysts had estimated an EPS of $0.12.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Michael Morhaime (Pres. & CEO-Blizzard Ent.) sold 1,150,000 shares at $38.15 per share price.Also, 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.

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