Activision Blizzard (ATVI) Gets a Buy Rating from Wedbush

In a report issued on April 1, Michael Pachter from Wedbush maintained a Buy rating on Activision Blizzard (ATVIResearch Report), with a price target of $95.00. The company’s shares closed last Friday at $80.82.

According to TipRanks.com, Pachter is a 2-star analyst with an average return of 0.5% and a 46.8% success rate. Pachter covers the Technology sector, focusing on stocks such as Playtika Holding, Alphabet Class A, and Corsair Gaming.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Activision Blizzard with a $96.00 average price target.

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Based on Activision Blizzard’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.16 billion and net profit of $564 million. In comparison, last year the company earned revenue of $2.41 billion and had a net profit of $509 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ATVI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Activision Blizzard, Inc. is one of the world’s largest interactive entertainment companies, with it developing and publishing console, online and mobile games. The company operates through three business segments: Activision, Blizzard, and King. The Activision unit develops and publishes interactive software products and entertainment content for the console, and the Blizzard and King segments focus on PC and mobile platforms.

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