Activision Blizzard announce massive layoffs following disappointing results in 2018

Activision Blizzard announce massive layoffs following disappointing results in 2018

The average price target of $59.89 calls for a almost 49.31% increase in the stock price. Now the security holds 15 "strong buy" ratings, two "buys", five "holds", and not a single "sell". The smaller number of ABR is the more favorable. The brokerage now has a buy rating on the stock. Keep in mind that Investors should not rely only on an analyst's recommendation when taking a decision whether to buy, hold, or sell a stock.

Additionally, gaming company Activision Blizzard will be in focus when it reports earnings after the bell on Tuesday.

That plus a lower-than-expected forecast for Activision Blizzard's first quarter of 2019 (the company predicts $6 billion in revenues) helped push the company's stock value down today alongside the earnings report. Rafferty Asset Management LLC now owns 32,746 shares of the company's stock worth $1,525,000 after purchasing an additional 7,985 shares during the last quarter. Analysts are expecting that the company may be attaining earnings growth of 9.14% for next five years.

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Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter. The mean target projections are based on 28 opinions. Turning to other widely-considered trading data, this company's half yearly performance is observed to be negative at -37.99%.

Shares of Activision Blizzard, Inc.

Representatives for Activision Blizzard say that employees who were laid off are being given a "comprehensive severance package, continued medical insurance, career coaching, job placement assistance", and profit sharing bonuses for 2018 for the Blizzard employees who qualify. However the six-month change in the insider ownership was recorded -0.36%, as well as three-month change in the institutional ownership was recorded -0.71%. ATVI 52-week low price stands at $42.53 while its 52-week high price is $84.68. Florida-based Raymond James & Assoc has invested 0.05% in Activision Blizzard, Inc. Investors are now hoping for "less bad" earnings results, given the weak numbers and disappointing guidance recently released from rivals Electronic Arts (EA) and Take-Two Interactive (TTWO). A low P/E can indicate either that a company may now be undervalued or that the company is doing exceptionally well relative to its past trends. Destiny 2's Forsaken expansion failed to meet Activision's sales expectations, and company stock took a significant hit after the ill-received announcement of the mobile-only Diablo: Immortal at Blizzcon in November. For net profit, these analysts are collectively forecasting an average estimate of $1.21 per share, versus the $0.88 per share reported in the year-ago quarter.

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