Morgan Stanley initiated coverage on shares of Electronic Arts Inc. (NASDAQ:EA) in a research note issued to investors on Friday. The firm issued an overweight rating and a $101.00 price target on the game software company’s stock.
Other analysts have also issued research reports about the stock. Jefferies Group restated a buy rating on shares of Electronic Arts in a research note on Monday, July 18th. Stifel Nicolaus restated a buy rating and set a $80.00 price target on shares of Electronic Arts in a research note on Tuesday, July 12th. Bank of America Corp. reiterated a buy rating on shares of Electronic Arts in a research note on Monday, June 13th. Vetr upgraded shares of Electronic Arts from a sell rating to a buy rating and set a $80.46 target price for the company in a research note on Wednesday, June 22nd. Finally, MKM Partners upped their target price on shares of Electronic Arts from $87.00 to $88.00 and gave the stock a buy rating in a research note on Wednesday, August 3rd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $88.33.
Shares of Electronic Arts (NASDAQ:EA) opened at 85.00 on Friday. The firm has a market cap of $25.56 billion, a PE ratio of 23.94 and a beta of 0.72. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $85.60. The stock’s 50 day moving average is $81.72 and its 200-day moving average is $74.11.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.09. The business earned $682 million during 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%. Electronic Arts’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. Analysts expect that Electronic Arts will post $3.64 earnings per share for the current year.
In other Electronic Arts news, SVP Kenneth A. Barker sold 15,909 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $81.39, for a total transaction of $1,294,833.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter R. Moore sold 8,000 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $75.83, for a total transaction of $606,640.00. Following the transaction, the executive vice president now owns 111,732 shares in the company, valued at $8,472,637.56. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aviva PLC boosted its position in shares of Electronic Arts by 0.4% in the first quarter. Aviva PLC now owns 191,904 shares of the game software company’s stock valued at $12,687,000 after buying an additional 786 shares in the last quarter. M&T Bank Corp boosted its position in shares of Electronic Arts by 20.5% in the first quarter. M&T Bank Corp now owns 79,934 shares of the game software company’s stock valued at $5,285,000 after buying an additional 13,592 shares in the last quarter. Menta Capital LLC purchased a new position in shares of Electronic Arts during the first quarter valued at about $450,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Electronic Arts during the first quarter valued at about $16,129,000. Finally, Sentry Investment Management LLC boosted its position in shares of Electronic Arts by 4.7% in the first quarter. Sentry Investment Management LLC now owns 23,832 shares of the game software company’s stock valued at $1,576,000 after buying an additional 1,070 shares in the last quarter.
Electronic Arts Company Profile
Electronic Arts Inc is a game software content and services provider. The Company develops, markets, publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield, Mass Effect, Need for Speed, Dragon Age, The Sims, Bejeweled and Plants v.
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