Activision Blizzard, Inc (ATVI) closed at $90.68 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's daily loss of 0.33%.Heading into today, shares of the company had lost 1.85% over the past month, outpacing the Consumer Discretionary sector's loss of 2.09% and lagging the S&P 500's gain of 2.89% in that time.Wall Street will be looking for positivity from ATVI as it approaches its next earnings report date. This is expected to be August 3, 2021. On that day, ATVI is projected to report earnings of $0.75 per share, which would represent a year-over-year decline of 22.68%. Meanwhile, our latest consensus estimate is calling for revenue of $1.88 billion, down 9.52% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.78 per share and revenue of $8.79 billion. These totals would mark changes of +8.93% and +4.47%, respectively, from last year.It is also important to note the recent changes to analyst estimates for ATVI. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ATVI is holding a Zacks Rank of #3 (Hold) right now.Digging into valuation, ATVI currently has a Forward P/E ratio of 24.44. Its industry sports an average Forward P/E of 22.05, so we one might conclude that ATVI is trading at a premium comparatively.Investors should also note that ATVI has a PEG ratio of 1.58 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Toys - Games - Hobbies industry currently had an average PEG ratio of 1.58 as of yesterday's close.The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 26% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Activision Blizzard, Inc (ATVI): Free Stock Analysis Report To read this article on Zacks.com click here.