Electronic Arts Inc. (NASDAQ:EA) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $90.20 price target on the game software company’s stock. Vetr‘s price target indicates a potential upside of 5.87% from the stock’s previous close.
EA has been the topic of several other research reports. Morgan Stanley started coverage on shares of Electronic Arts in a report on Friday, September 23rd. They issued an “overweight” rating and a $101.00 target price on the stock. Stifel Nicolaus raised their price objective on shares of Electronic Arts from $83.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Macquarie reissued an “outperform” rating and set a $80.00 price objective on shares of Electronic Arts in a report on Friday, July 22nd. Bank of America Corp. reissued a “buy” rating on shares of Electronic Arts in a report on Friday, September 16th. Finally, Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Electronic Arts has a consensus rating of “Buy” and an average price target of $88.33.
Electronic Arts (NASDAQ:EA) opened at 85.20 on Monday. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $85.53. The company has a 50 day moving average of $81.54 and a 200 day moving average of $74.03. The firm has a market capitalization of $25.63 billion, a PE ratio of 24.00 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share 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 analysts’ expectations of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. Analysts forecast that Electronic Arts will post $3.64 EPS for the current year.
In other news, CEO Andrew Wilson sold 8,000 shares of Electronic Arts stock in a transaction on Friday, July 1st. The stock was sold at an average price of $75.96, for a total transaction of $607,680.00. Following the completion of the transaction, the chief executive officer now owns 256,581 shares of the company’s stock, valued at approximately $19,489,892.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake J. Jorgensen sold 10,100 shares of Electronic Arts stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $83.21, for a total value of $840,421.00. Following the transaction, the chief financial officer now directly owns 113,410 shares of the company’s stock, valued at approximately $9,436,846.10. The disclosure for this sale can be found here. Insiders own 3.46% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EA. Archford Capital Strategies LLC increased its position 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 valued at $110,000 after buying an additional 1,351 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Electronic Arts during the second quarter valued at about $168,000. SSI Investment Management Inc. purchased a new position in Electronic Arts during the second quarter valued at about $200,000. Stratos Wealth Partners LTD. purchased a new position in Electronic Arts during the second quarter valued at about $202,000. Finally, Wetherby Asset Management Inc. purchased a new position in Electronic Arts during the second quarter valued at about $239,000.
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.
To view Vetr’s full report, visit Vetr’s official website.
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