5 Stocks Reddit’s WallStreetBets is Buying Before Earnings

1. Activision Blizzard, Inc. (NASDAQ: ATVI)

Number of Hedge Fund Holders: 76     

Activision Blizzard, Inc. (NASDAQ: ATVI) is a company that focuses on the production of interactive entertainment content. It is based in California and is ranked first on our list of 10 stocks Reddit’s WallStreetBets is buying before earnings. The firm will post second quarter earnings after the close of the market on August 3. In earnings results for the first quarter, posted on May 4, the firm reported earnings per share of $0.84, beating market expectations by $0.15. The revenue over the period was $2 billion, up 36% year-on-year. 

On August 2, investment advisory Credit Suisse raised the price target on Activision Blizzard, Inc. (NASDAQ: ATVI) stock to $125 from $120 and maintained an Outperform rating, noting that the firm was positioned strongly for the transition to online and mobile gaming. 

At the end of the first quarter of 2021, 76 hedge funds in the database of Insider Monkey held stakes worth $3.5 billion in Activision Blizzard, Inc. (NASDAQ: ATVI), down from 81 in the preceding quarter worth $3.7 billion.

In its Q1 2021 investor letter, Cooper Investors, an asset management firm, highlighted a few stocks and Activision Blizzard, Inc. (NASDAQ: ATVI) was one of them. Here is what the fund said:

“The portfolio established a position in video game publisher Activision Blizzard. As a watchlist company we have followed Activision for several years. As a reminder the role of the watchlist is to allow us to focus on a select group of companies where we seek to observe important signals around either value latency, industry trends or management behaviour that portend attractive investment propositions.

Technology can often play a disruptive role in content, however video games are a clear beneficiary of technology, both in terms of more immersive and realistic gaming experiences as well as the monetisation opportunities this creates…” (Click here to see the full text)

You can also take a peek at 15 Best High Volume Stocks to Buy Now and 10 Best Up and Coming Stocks to Invest In.

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