Electronic Arts (NASDAQ:EA) had its price target raised by equities research analysts at Needham & Company LLC from $135.00 to $170.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the game software company’s stock. Needham & Company LLC’s price target suggests a potential upside of 18.76% from the stock’s previous close.
Several other research firms have also recently issued reports on EA. BidaskClub raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. Benchmark reaffirmed a “buy” rating and set a $164.00 price target on shares of Electronic Arts in a research note on Monday. KeyCorp raised their price target on shares of Electronic Arts from $152.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday. They noted that the move was a valuation call. Stifel Nicolaus raised their price target on shares of Electronic Arts from $144.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, June 15th. Finally, Zacks Investment Research raised shares of Electronic Arts from a “sell” rating to a “hold” rating in a research note on Monday, May 14th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and a consensus target price of $144.91.
Electronic Arts opened at $143.15 on Friday, MarketBeat reports. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.22. Electronic Arts has a twelve month low of $99.63 and a twelve month high of $147.13. The stock has a market cap of $43.97 billion, a price-to-earnings ratio of 41.61, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, May 8th. The game software company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.14. Electronic Arts had a net margin of 20.25% and a return on equity of 28.51%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. research analysts forecast that Electronic Arts will post 4.27 EPS for the current year.
In related news, CFO Blake J. Jorgensen sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $118.23, for a total value of $1,241,415.00. Following the transaction, the chief financial officer now owns 117,114 shares in the company, valued at $13,846,388.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $143.61, for a total transaction of $143,610.00. Following the completion of the transaction, the general counsel now owns 20,930 shares in the company, valued at approximately $3,005,757.30. The disclosure for this sale can be found here. Insiders sold 179,142 shares of company stock worth $23,071,046 in the last 90 days. 2.55% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of EA. Global X Management Co. LLC raised its holdings in Electronic Arts by 26.4% in the fourth quarter. Global X Management Co. LLC now owns 3,770 shares of the game software company’s stock valued at $396,000 after buying an additional 788 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Electronic Arts by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,337 shares of the game software company’s stock valued at $1,296,000 after buying an additional 1,708 shares during the period. Tower Research Capital LLC TRC raised its holdings in Electronic Arts by 1,178.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,838 shares of the game software company’s stock valued at $298,000 after buying an additional 2,616 shares during the period. Virtu Financial LLC purchased a new position in Electronic Arts in the fourth quarter valued at approximately $993,000. Finally, Wedbush Securities Inc. purchased a new position in Electronic Arts in the fourth quarter valued at approximately $230,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, personal computers, mobile phones, and tablets worldwide. It develops and publishes games primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v. Zombies brands; and license games from others, such as FIFA, Madden NFL, and Star Wars, as well as publishes and distributes games developed by third parties.
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