Gaming publisher Activision Blizzard (ATVI) on announced that its “Call of Duty” game franchise has surpassed $3 billion in web bookings within the last year. Activision stock rose on the news.
In a news release, Activision said its name that is newest, “Phone of Duty: Black Ops Cold War,” had a “record-setting launch” but would not quantify that statement. The game went on sale on Nov. 13.
The Santa Monica, Calif.-based business centered on the “Call of Duty” ecosystem instead of just the title that is latest. The shooter that is armed forces also incorporates free-to-play game “Call of Duty: Warzone,” a “Call of Duty” mobile game and last year’s system and PC game “Call of Duty: Modern Warfare.”
Activision stated the “Call of Duty” franchise is showing energy that is strong with year-to-date net bookings up over 80%. Product product sales are up significantly more than 40% over year, it stated 12 months. Plus, over 200 million individuals have played “Call of Duty” games this present year.
Activision Inventory Approaching Buy Point
In the currency markets today, Activision stock climbed 2.7% to 80.88.
In accordance with IBD MarketSmith charts, Activision stock is consolidating for the past 18 days with a buy point of 87.83.
Truist Securities analyst Matthew Thornton said Activision’s “Call of Duty” news was reassuring and in line with expectations. Thornton reiterated his purchase score on Activision stock with a cost target of 90.
Benchmark analyst Mike Hickey stated the “Call of Duty” franchise sales figure suggested upside to their income model. He kept his purchase rating on Activision stock having a price target of 109.
Activision stock ranks 4th out of 14 shares in IBD’s Computer Software-Gaming industry group, in line with the IBD Stock Checkup tool. The group ranks No. 63 out of 197 industry groups that IBD songs. Gaming publisher Activision Blizzard (ATVI) on announced.