Activision Blizzard, Inc. (ATVI), a Communication Services Electronic Gaming & Multimedia corporation, saw its stock exchange 62.33 shares, a pop when compared to its 10-day trading volume of 6.31M.
Activision Blizzard, Inc. (ATVI) stock is changing hands at $62.33, up 2.07 cents or +3.44% on the day. Based on this we can see some traders are either waiting on the sidelines to get involved or perhaps some are taking profits.
Total Revenue for Activision Blizzard, Inc. (ATVI) is $6.49B, Gross Profit is $4.39B and the EBITDA is $2.29B.
Activision Blizzard, Inc. (ATVI) beat fourth quarter 2019 profit estimates by nearly 100%, reporting EPS of $0.68 despite expectations of just $0.36. Revenues met expectations but still declined 4.5% year over year, highlighting industry headwinds. Investors ignored downside guidance for the first quarter of 2020 and mixed guidance for the fiscal year, lifting the stock about 2% in Thursday’s post-market. Activision shares added to those gains ahead of the opening bell, continuing the buy-the-news reaction.
The stock tested support near $10 for nearly four years and turned higher in 2012, entering an uptrend that posted an all-time high at $84.68 in October 2018. The subsequent decline accelerated after a weak November earnings report, continuing into February 2019 before bottoming out at a two-year low in the lower $30s. The uptick into January 2020 stalled less than point under the gap top, yielding a minor pullback, while this morning’s rally is within striking distance of that resistance level.
U.S. video game companies are struggling to meet quarterly expectations, but positive fourth quarter catalysts could lift these stocks to new highs.
Activision Blizzard, Inc. (ATVI) Technical Statistics:
The average 10-day trading volume of Activision Blizzard, Inc. (ATVI) is 6.31M compared to 5.95M over the last 3 months which indicates a pop in trading activity. At the time of writing, Activision Blizzard, Inc. (ATVI) has a 50-day moving average of $59.53 and a 200-day moving average of $54.44. These moving averages are popular technical figures that investors use to analyze price trends of Activision Blizzard, Inc. (ATVI).
Approximately 3.35% of the shares of the company are sold short from investors betting the shares may trade lower. The beta value on Activision Blizzard, Inc. (ATVI) stock is 0.86, indicating its 2.79% to 2.07% more volatile than the overall market.
Technically, ATVI’s short term support levels are around $59.80, $58.17 and $56.40 on the downside. ATVIs short term resistance levels are $63.21, $61.60 and $60.89 on the upside.
Based on technical analysis, ATVI has short term rating of Neutral (-0.04), Intermediate rating of Very Bullish (0.54) and the long-term rating of Bullish (0.36) giving it an overall rating of Bullish (0.29).
ATVI is trading 56.16% off its 52 week low at $39.85 and 0.53% off its 52 week high of $61.90. Performance wise, ATVI stock has recently shown investors -1.03% a reduction in a week, -0.12% a reduction in a month and 8.50% a pop in the past quarter.
More importantly, Activision Blizzard, Inc. (ATVI) has shown a return of 1.41% since the beginning of the year.
Activision Blizzard, Inc. (ATVI) Key Data:
Activision Blizzard, Inc. (ATVI) is a large-cap company with a market cap value of $49.033B. ATVI insiders hold roughly 1.38% of the shares.
On Jan-06-20 The Benchmark Company Reiterated ATVI as Buy at $68 → $72. On Jan-14-20 Nomura Reiterated ATVI as Buy at $64 → $70 and on Jan-28-20 Piper Sandler Reiterated ATVI as Overweight at $62 → $69.
There are currently 757.65M shares in the float and 799.92M shares outstanding. There are 3.35% shares short in ATVIs float.
The industry rank for Activision Blizzard, Inc. (ATVI) is 179 out of 255 ranking it at the Bottom 30% .
Activision Blizzard, Inc. (ATVI) Fundamental Evaluation:
ATVI last 2 years revenues have decreased from $7,500,000 to $6,884,000 showing a downtrend.
Wall Street expects Activision Blizzard, Inc. (ATVI) to report an EPS next Qtr profit of 1.19 and a profit of 12.65% next year.
The growth rate on ATVI this year is 12.44 compared to an industry -1.70. However, ATVIs next year’s growth rate is 10.67 compared to an industry 28.30.
The book value per share (mrq) is 15.95 and cash per share (mrq) is 6.36. Giving them a price/book (mrq) of 3.78 compared to an industry of 4.49 and ATVIs price/cash flow (mrfy) is 16.18 compared to an industry of 21.42.
ATVI fundamental ratios shows an EPS growth vs. previous year 2.53 and EPS growth vs. previous quarter 0.38.
About Activision Blizzard, Inc. (ATVI):
Based in Santa Monica, CA, Activision Blizzard, Inc. is a leading developer and publisher of console and online games. The company reported revenues of $6.49 billion in 2019. International revenues accounted for 48.5% of revenues.Activision Blizzard operates under three major segments and incorporates studio, media networks and distribution businesses under the “Others” segment.Activision Publishing creates and publishes games for consoles, desktops, mobile and tablet. Franchises under this segment include Call of Duty, Crash and Spyro. Effective Dec 31, 2018, Activision and Bungie mutually agreed to terminate their publishing relationship (signed in 2010) related to the Destiny franchise.Activision Publishing generated revenues of $2.22 billion and accounted for almost 37.2% of revenues.Blizzard Entertainment publishes games particularly for the PC format. It also maintains a proprietary online gaming service, Blizzard Battle.net, which facilitates digital distribution of Blizzard content and selected Activision content, online social connectivity, and the creation of user-generated content. The Overwatch League and Major League Gaming (MLG) business also come under this segment.The segment generated revenues of $1.72 billion and accounted for 28.8% of revenues. Franchises under this segment include Overwatch, Diablo, World of Warcraft, Heroes of the Storm, Hearthstone and StarCraft.King Digital Entertainment was acquired in February 2016 for more than $5.9 billion. It operates as an independent unit. The segment generated revenues of $2.03 billion and accounted for 34% of revenues. Franchises under this segment include Candy Crush, Farm Heroes and Bubble Witch.The Other division includes Activision Blizzard Studios that makes original film and television content based on the company’s huge IP library. The segment also consists Activision Blizzard Distribution business.