After Needham and Piper Jaffray gave Activision Blizzard (NASDAQ: ATVI) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Evan Wingren maintained a Buy rating on Activision Blizzard today and set a price target of $64. The company’s shares closed yesterday at $51.35.
According to TipRanks.com, Wingren is ranked #1546 out of 5142 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Activision Blizzard with a $71.33 average price target, implying a 38.9% upside from current levels. In a report issued on January 2, Jefferies also reiterated a Buy rating on the stock with a $85 price target.
Based on Activision Blizzard’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.51 billion and net profit of $260 million. In comparison, last year the company earned revenue of $2.04 billion and had a GAAP net loss of $584 million.
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Activision Blizzard, Inc. engages in the development and publication of interactive entertainment. It operates through the following segments: Activision, Blizzard, and King. The Activision segment develops and publishes interactive software products and entertainment content, particularly for the console platform.