Could Activision Blizzard Reach $100 a Share by 2023?
Activision Blizzard (NASDAQ: ATVI) is expected to report record adjusted revenue and profits for 2021, but this leading video game producer is currently dealing with major internal issues, including a lawsuit over a discriminatory workplace culture and an investigation by the Securities and Exchange Commission.
Turnover within the executive ranks at the Blizzard studio has resulted in the company pushing back the highly anticipated releases of Diablo IV and Overwatch 2, two games investors were counting on to drive growth in 2022. The stock price declined 30% in the second half of 2021, as analysts lowered next year's earnings estimates to be flat with 2021, or $3.78.
There is a scenario where the stock could continue underperforming this year, but the near-term uncertainty could also present a good opportunity to buy shares of this leading game company at a relatively cheap valuation.
Source Fool.com
