Activision Blizzard (ATVI) Estimates Raised at Needham & Company

Needham & Company analyst Laura Martin reiterated a Buy rating and $102.00 price target on Activision Blizzard (NASDAQ: ATVI) and raised estimates for FY20 and FY21 on the belief that COVID-19 lock-downs have accelerated several media trends, and ATVI is among the biggest beneficiaries. The analyst highlighted 5 trends: 1) US video game revenue growth, 2) Advertising, 3) Twitch’s average viewer base is up 73%, 4) YouTube Gaming Live's average concurrent viewership is at an all time high, and 5) Facebook Gaming.

The analyst stated "We believe ATVI benefits from several trends that have accelerated during COVID-19, such as increased play times, more viewing hours, broader new game trials and new demos playing video games (ie, 50% of ATVI's users were female in 2Q20)".

For an analyst ratings summary and ratings history on Activision Blizzard click here. For more ratings news on Activision Blizzard click here.

Shares of Activision Blizzard closed at $77.59 yesterday.

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