Morgan Stanley Reaffirms “Overweight” Rating for Electronic Arts Inc. (NASDAQ:EA)

Electronic Arts Inc. (NASDAQ:EA)‘s stock had its “overweight” rating reiterated by investment analysts at Morgan Stanley in a research report issued on Wednesday, October 18th, Marketbeat reports. They currently have a $126.00 price objective on the game software company’s stock, down from their previous price objective of $128.00. Morgan Stanley’s target price would suggest a potential upside of 8.78% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. set a $130.00 price objective on Electronic Arts and gave the company a “buy” rating in a report on Friday, July 28th. Wedbush reiterated a “buy” rating on shares of Electronic Arts in a report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price objective (up previously from $123.00) on shares of Electronic Arts in a report on Friday, July 28th. Bank of America Corporation upgraded Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Wednesday, July 26th. Finally, BidaskClub upgraded Electronic Arts from a “hold” rating to a “buy” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $122.83.

Shares of Electronic Arts (NASDAQ EA) opened at 115.83 on Wednesday. The stock has a 50 day moving average of $117.42 and a 200 day moving average of $111.07. The stock has a market cap of $35.76 billion, a P/E ratio of 31.01 and a beta of 0.69. Electronic Arts has a one year low of $73.74 and a one year high of $122.79.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The company had revenue of $775.00 million during the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. Equities analysts expect that Electronic Arts will post $4.25 EPS for the current fiscal year.

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In other Electronic Arts news, EVP Chris Bruzzo sold 1,500 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $119.54, for a total value of $179,310.00. Following the completion of the transaction, the executive vice president now directly owns 30,430 shares in the company, valued at $3,637,602.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $120.77, for a total value of $120,770.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,096 shares of company stock valued at $23,573,936. 2.55% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. FMR LLC increased its stake in shares of Electronic Arts by 0.7% in the second quarter. FMR LLC now owns 30,692,180 shares of the game software company’s stock valued at $3,244,778,000 after buying an additional 205,768 shares during the period. Vanguard Group Inc. increased its stake in shares of Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after buying an additional 2,394,314 shares during the period. BlackRock Inc. increased its stake in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after buying an additional 20,174,721 shares during the period. State Street Corp increased its stake in shares of Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after buying an additional 318,704 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Electronic Arts by 1.2% in the second quarter. Northern Trust Corp now owns 3,431,740 shares of the game software company’s stock valued at $362,804,000 after buying an additional 40,722 shares during the period. 94.00% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Electronic Arts (NASDAQ:EA)

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