Activision Blizzard (ATVI) Buy, Sell or Hold

Activision Blizzard (ATVI)

94.42

-0.00 (0.00%)

as of Oct 12, 2023, 12:00:00 am Market Open.

170 watching

COMMENT

Gaming stocks? In the "stay at home" bucket -- what people are going to do when isolated at home. Activision is their most favored stock that they hold in this space now.

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DON'T BUY

They all went through a correction in 2018 and several got cut in half. The group seems to have taken a turn. He would tend to pick Electronic Arts.

TOP PICK

Like Disney, ATVI owns its own properties (videogame characters). They have 300 million daily users, but he projects 1 billion in coming years a it adds mobile versions of its popular games. Huge upside. (Analysts’ price target is $61.66)

WAIT

His model price is $61.24. A breakout above $62.40 could mean a sizable push up. It has had a nice pullback from 2018 highs. He would wait.

BUY

Call of Duty, their big game, has enjoyed the fastest launch ever. Big bucks. ATVI fell out of favour with Fortnite, but this is a huge industry with big legs. He likes ATVI and now is a good entry point.

BUY ON WEAKNESS

He follows it closely although he does not own it. He has a price target of $57, so he would like to buy it with a $40 handle. They reported recently and investors pushed back on their recent guidance. He believes they have a lot of opportunistic investments available. He thinks they will return to growth next year.

BUY

The chart looks great. It’s the kind of stock that is news driven. It held, and now there is momentum, and those who sold will be coming back in. Their stock price has done well due to good results from a new video game. (Analysts’ price target is $65.00)

TOP PICK

New games. 300 million people are playing their games every month. Balance sheet is perfect. Stock's been beaten up too much. Well undervalued. Whole space has many tailwinds. Yield is 0.68%. (Analysts’ price target is $55.17)

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COMMENT

EA or ATVI? He has owned several, but owns Activision now. There is a seasonal component ahead of Christmas. He would add to his current holding before getting into Electronic Arts, who has some internal management restructuring going on. (Analysts’ price target is $111.00)

PAST TOP PICK

(A Top Pick Aug 29/18, Down 33%) Still holding it. Going into the Christmas season, there will be good tailwinds. They are getting into online mobile systems. They have a significant share buyback going on right now.

HOLD

Hang onto it 100%. Esports, not Fortnite, is a big deal. People are packing stadiums to watch people play Esports. ATVI has a lot of good games and will have more good games. Still a good company.

PAST TOP PICK

(A Top Pick Jul 09/18, Down 40%) He knows the gaming space well. ATVI got hyped last fall. His current price target is $56. The chart has been sputtering as ATV re-organizes. ATVI has had a hard time digesting its merger with Blizzard. But the pivot to mobile is an opportunity for this stock going forward.

COMMENT

Video game companies? When video game companies found the advantage to after sales revenues, he got interested. Gaming is a growth industry now. Now that membership revenues have been introduced, it has made earnings less predictable. This is a structural change in the industry, which will create some investor anxiety. He would prefer IGV -A as an ETF basket of gaming companies for now.

PAST TOP PICK

(A Top Pick Sep 20/18, Down 41%) he bought it during the hype over the name game, Call of Duty, which pushed the stock way too much. Despite high revenues last year, their guidance was very poor--no new games for 2019, so the stock got slammed. At the same time, videogames in general generate a lot more cash flow than they used to. At the time, he was excited about the new games in their pipeline--who knows when they release them? He has faith. He's holding on and buying more shares. The balance sheet is perfect and they raised a lot more capital recently. He's excited about the opportunities.

WAIT

The stock is forming a longer term base. If you can break out above recent resistance around $50 before he would get excited.

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Activision Blizzard (ATVI)