Vetr downgraded shares of Electronic Arts Inc. (NASDAQ:EA) from a strong-buy rating to a buy rating in a report released on Tuesday morning. They currently have $93.33 price target on the game software company’s stock.
Several other equities research analysts have also issued reports on EA. Zacks Investment Research lowered shares of Electronic Arts from a buy rating to a hold rating in a report on Friday, July 1st. Jefferies Group reissued a buy rating on shares of Electronic Arts in a report on Monday, July 11th. Stifel Nicolaus reissued a buy rating and issued a $80.00 price target on shares of Electronic Arts in a report on Tuesday, July 12th. Macquarie reissued an outperform rating and issued a $80.00 price target on shares of Electronic Arts in a report on Friday, July 22nd. Finally, Piper Jaffray Cos. boosted their price target on shares of Electronic Arts from $87.00 to $88.00 and gave the company an overweight rating in a report on Wednesday, August 3rd. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $89.02.
Electronic Arts (NASDAQ:EA) opened at 84.01 on Tuesday. The stock has a 50 day moving average of $83.15 and a 200 day moving average of $75.94. Electronic Arts has a 52 week low of $53.01 and a 52 week high of $86.07. The firm has a market cap of $25.27 billion, a PE ratio of 23.66 and a beta of 0.63.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $682 million for the quarter, compared to analyst estimates of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. Analysts anticipate that Electronic Arts will post $3.64 EPS for the current year.
In related news, EVP Joel Linzner sold 23,257 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $79.71, for a total value of $1,853,815.47. Following the sale, the executive vice president now directly owns 85,402 shares in the company, valued at approximately $6,807,393.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 8,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $76.47, for a total transaction of $611,760.00. Following the completion of the sale, the chief executive officer now owns 248,581 shares in the company, valued at $19,008,989.07. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Archford Capital Strategies LLC boosted its stake in Electronic Arts by 1,407.3% in the second quarter. Archford Capital Strategies LLC now owns 1,447 shares of the game software company’s stock worth $110,000 after buying an additional 1,351 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Electronic Arts during the second quarter valued at $168,000. SSI Investment Management Inc. acquired a new position in shares of Electronic Arts during the second quarter valued at $200,000. Stratos Wealth Partners LTD. acquired a new position in shares of Electronic Arts during the second quarter valued at $202,000. Finally, Starfire Investment Advisers Inc. acquired a new position in shares of Electronic Arts during the third quarter valued at $220,000.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
To view Vetr’s full report, visit Vetr’s official website.
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