Activision will be hit with substantial layoffs next week

  • Activision will be hit with substantial layoffs next week

Activision will be hit with substantial layoffs next week

Trading activity significantly improved as the volume at ready counter increased to 19,229,980 shares versus 12,681,439 in average daily trading volume over the past 20 days.

Notable Experts have a mean recommendation of 2 on this stock. It is simply ATVI stock's average closing price over the last 50 days. The Stock price down move to its 20 SMA, getting attention form Day Traders as 20-SMA is the last stop on the bus for short-term traders. On February 8th, 2019, volume rose to about 1,420,728 transactions.

The 200-day simple moving average is one of the most important tools when trading. It trades for 17.01 times the next 12 months of expected earnings.

As Bloomberg notes, the company has seen quite a shake-up at the top over the past year as well, which certainly doesn't help. This company's current market capitalization is 22.98B. While price targets are useful, most investors find more value in an analyst's conviction level or in the ratio of upside to downside.

The price target set for the stock is $63.67.

Not surprising in a year where the publisher lost its golden goose Destiny, creator Bungie's partnership with Activision Blizzard coming to an end and the studio going independent. Is it a worthwhile investment opportunity? In the meantime, the Activision Blizzard, Inc. (NASDAQ:ATVI) has "Overweight" rating given by KeyBanc Capital Markets.

A total of 10 analysts rate Activision Blizzard (NASDAQ:ATVI) as follows: 5 "Buy", 5 "Hold" and 0 "Sell". Its weekly volatility is hovering around 3.3% and felt 3.25% volatility in price over a month.

And how do Wall Street experts think this company is performing in this arena?

Sources told Bloomberg that Activision Blizzard wants to centralize functions and boost profits, and that part of the plan will include layoffs that could cost hundreds of employees their jobs. This compares to the average analyst prediction of 0.50, representing a difference of 0.02, and therefore a surprise factor of 4.00.

The Company's sales have grown at an average annualized rate of about 7.60% during the past five years.

· The quarterly performance of the stock is -32.44%, while the half-yearly performance is -37.99%.

The short ratio in the company's stock is documented at 1.40 and the short float is around of 2.23%.

Now let's turn our focus toward the near-term: the current quarter's financial results. On Friday, August 31 Bank of America downgraded Activision Blizzard, Inc. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03).