Electronic Arts Inc. (NASDAQ:EA) had its target price lifted by Oppenheimer Holdings Inc. from $88.00 to $94.00 in a report released on Friday. Oppenheimer Holdings Inc. currently has an outperform rating on the game software company’s stock.
EA has been the subject of a number of other reports. Vetr raised 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. MKM Partners increased their target price on Electronic Arts from $87.00 to $88.00 and gave the stock a buy rating in a research note on Wednesday, August 3rd. Cowen and Company reissued an outperform rating and set a $83.00 target price on shares of Electronic Arts in a research note on Tuesday, August 23rd. Zacks Investment Research cut Electronic Arts from a buy rating to a hold rating in a report on Friday, July 1st. Finally, Bank of America Corp. restated a buy rating on shares of Electronic Arts in a report on Friday, September 16th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $89.02.
Shares of Electronic Arts (NASDAQ:EA) traded down 0.01% during trading on Friday, reaching $82.58. The company had a trading volume of 780,206 shares. Electronic Arts has a 12 month low of $53.01 and a 12 month high of $86.07. The firm has a market capitalization of $24.84 billion, a P/E ratio of 23.26 and a beta of 0.63. The firm’s 50 day moving average price is $83.09 and its 200 day moving average price is $75.63.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.09. The business earned $682 million during the quarter, compared to the consensus estimate of $652.64 million. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. Equities analysts predict that Electronic Arts will post $3.64 EPS for the current year.
In other news, SVP Kenneth A. Barker sold 15,909 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $81.39, for a total transaction of $1,294,833.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake J. Jorgensen sold 10,100 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $76.44, for a total value of $772,044.00. Following the sale, the chief financial officer now owns 109,700 shares of the company’s stock, valued at $8,385,468. The disclosure for this sale can be found here. 3.46% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Standard Life Investments LTD increased its stake in shares of Electronic Arts by 4.0% in the second quarter. Standard Life Investments LTD now owns 4,851,825 shares of the game software company’s stock valued at $367,599,000 after buying an additional 186,449 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Electronic Arts by 38.3% in the second quarter. Artemis Investment Management LLP now owns 276,148 shares of the game software company’s stock valued at $20,922,000 after buying an additional 76,479 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Electronic Arts by 131.2% in the first quarter. Wellington Management Group LLP now owns 1,827,163 shares of the game software company’s stock valued at $120,793,000 after buying an additional 1,036,789 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in Electronic Arts by 26.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 196,173 shares of the game software company’s stock worth $14,863,000 after buying an additional 41,231 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Electronic Arts by 31.4% in the first quarter. Envestnet Asset Management Inc. now owns 72,436 shares of the game software company’s stock worth $4,789,000 after buying an additional 17,292 shares during the period.
About Electronic Arts
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.
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