Analysts Raise Price Targets On ATVI, WWE, and CRM Stocks

Options activity has also been bullish on ATVI and CRM

Jul 24, 2018 at 10:06 AM
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Video game stock Activision Blizzard, Inc. (NASDAQ:ATVI), media giant World Wrestling Entertainment, Inc. (NYSE:WWE), and cloud services provider Salesforce.com, Inc. (NYSE:CRM) have all outperformed this year. This morning, analysts are calling for even more upside out of shares of ATVI, WWE, and CRM. We'll take a closer look at the bullish attention below.

MKM Partners Weighs In On ATVI Stock

MKM Partners increased its price target on Activision Blizzard stock to $82 from $70, coming in slightly above the average analyst price target of $78.73, and ATVI's current price of $79.55. The shares hit an all-time high of $81.64 back on July 16, and sport a year-over-year gain of roughly 30%.

Recent options activity has also been bullish, with the equity's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) coming in at 2.66 -- in the 87th annual percentile. In short, call buying has been unusually popular in recent weeks.

WWE Stock Gets Highest Price Target Yet

WWE just received a price-target hike to $100 -- the highest of any analyst -- from Needham. The stock has been one of the biggest winners on Wall Street this year, exploding from around $21 to today's perch at $83.50 over the past 12 months, and they just hit a record high of $83.71. However, short interest rose another 14% in the last reporting period, and represents over 18% of the total float, so clearly many are betting on a pullback. World Wrestling Entertainment steps into the earnings booth before the open this Thursday.

Stifel Sees Higher Highs For Salesforce

CRM stock is also at record highs today, topping out at $148.85 shortly after the open, following Stifel's price-target hike to $175 from $160. Salesforce has already gained 65.5% year-over-year, earning it 27 "buy" or "strong buy" recommendations, compared to just three "holds." A number of options traders have been betting on an extended breakout, too, since heavy buy-to-open activity has taken place at the August 150 call, which is home to peak open interest.

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