Activision Blizzard set to layoff hundreds of employees

Mae Love
February 12, 2019

122 funds acquired stakes and 269 increased stakes. Cleararc holds 19,697 shs or 0.21% of its capital.

Telos Cap Mngmt holds 0.74% or 27,797 shs. Jennison Assoc Ltd Co owns 14.71M shs. Vanguard Group Incorporated holds 0.17% of its portfolio in Activision Blizzard, Inc. Strs Ohio holds 0.16% or 451,153 shs. Cibc World has invested 0.02% in Activision Blizzard, Inc. Fincl Counselors has 36,519 shs. Activision Blizzard presently has a consensus rating of "Buy" and a consensus price target of $67.34.

Shares of NASDAQ:ATVI traded down $0.55 during trading on Monday, hitting $43.41. Stock analysts have TP of $68 which indicates 69.53 % upside potential on firm's stock.

As a general matter investors should not rely exclusively on an analyst's recommendation when deciding whether to buy, sell or hold a stock. Therefore 50% are positive. Financial Services reported 0.01% in Activision Blizzard, Inc. The stock has "Outperform" rating by Wedbush on Monday, October 1. On Tuesday, January 29 the firm has "Market Perform" rating by Oppenheimer given. Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. The firm operates through three divisions: Activision Publishing, Inc.; Blizzard Entertainment, Inc.; and King Digital Entertainment.52.92 is the P/E ratio. ATVI stock price current trend is considered bearish. On Friday, January 11 the company was maintained by KeyBanc Capital Markets.

More notable recent Activision Blizzard, Inc. (NASDAQ:ATVI) rating. Bank of America has "Neutral" rating and $77 target.

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We are unsure what the future of Activision Blizzard will look like, but we do know the company wants to focus on releasing games more often to increase profits. ATVI has also 6,437 shares volume. It has underperformed by 22.23% the S&P500.

Bloomberg is reporting that Activision Blizzard will announce job cuts on February 12 that could number in the hundreds. Even though the stock has been trading at $9.33/share, analysts expect it to surge higher by 3.54% to reach $9.27/share. EPS is seen in a range of $0.36 to $0.64, against the $0.61 reported a year ago. Take-Two Interactive Software Inc. share price also fell last week after forecasts for this quarter were 100 million below the forecasts set by Wall Street for the company.

Despite this, Activision Blizzard still stands as one of the largest developer and publisher in the video game industry. More interesting news about Activision Blizzard, Inc. The titles are as follows: "Activision Blizzard (ATVI) Q3 Earnings: What's in the Cards?"

Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, November 8th.

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