Activision-Blizzard reportedly planning hundreds of job-cuts

Activision is about to lay off hundreds of employees

The research company has also assigned a $68 price target.

Activision Blizzard has also recently lost several high-profile executives: long-time Activision Publishing CEO Eric Hirshberg, Blizzard co-founder and president Mike Morhaime, Activision Blizzard CFO Spencer Neumann, and Blizzard CFO Amirta Ahuja. The stock had earned Hold rating from Deutsche Bank when it published its report on January 22nd, 2019.

The price target set for the stock is $63.67.

Bloomberg claims the layoffs could be in the hundreds which would be a devastating blow in an industry where employment is already frequently precarious with the shock closure of Telltale Games past year yet another reminder of how poorly the creators of our favourite games can be treated. Needham thinks that ATVI is worth Buy rating.

Notable Experts have a mean recommendation of 2 on this stock.

Total analysts of 10 have positions in Activision Blizzard (NASDAQ:ATVI) as follows: 5 rated it a "Buy", 0 with "Sell" and 5 with "Hold". The consensus now stands at a Hold while its average price target is $60.54. At the moment, this stock's 52-week high is $110.30 and its 52-week low is $89.10. A look at the stock's other technical shows that its 14-day RSI now stands at 32.88.

Activision Blizzard (ATVI) attained alert from day Traders as RSI reading reached at 39.96. 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. Activision Blizzard includes both Activision and Blizzard Entertainment, as well as mobile games developer King Digital. It is rumored that the date was chosen to align with the company's quarterly earnings call, allowing for some news of cost-cutting to be relayed to investors.

Activision Blizzard is anticipated to report earnings of $1.29 per share on $3.04 billion in revenue. The firm's revenue was down 12.6% compared to the same quarter past year. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Analyst established EPS growth expected to grow of -7.00% for this year and EPS growth for next year is likely to attain at -1.85%. As close of recent trade, stock represents -48.74% move from 52-week high. During the trading period, the first transaction completed was recorded at $108.42 per share, which has gone up by 1.36% by closing bell when the final transaction of the day was recorded at 106.81.

The 50-day moving average is a popular technical indicator which investors use to analyze price trends of Activision Blizzard.

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