Electronic Arts (NASDAQ:EA)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Friday, Marketbeat.com reports. They currently have a $100.00 target price on the game software company’s stock, down from their prior target price of $150.00. Needham & Company LLC’s price target would indicate a potential upside of 24.75% from the company’s current price.
A number of other research firms also recently commented on EA. Morgan Stanley dropped their price target on Electronic Arts from $122.00 to $111.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 31st. Credit Suisse Group dropped their price target on Electronic Arts from $155.00 to $146.00 and set an “outperform” rating for the company in a research note on Friday, August 31st. ValuEngine raised Electronic Arts from a “sell” rating to a “hold” rating in a research note on Thursday, December 6th. MKM Partners dropped their price target on Electronic Arts to $157.00 and set a “buy” rating for the company in a research note on Friday, August 31st. Finally, TheStreet downgraded Electronic Arts from a “b-” rating to a “c+” rating in a research note on Friday, November 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $130.96.
Shares of Electronic Arts stock opened at $80.16 on Friday. The stock has a market capitalization of $24.22 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. Electronic Arts has a 52-week low of $79.14 and a 52-week high of $151.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.52 and a quick ratio of 3.52.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, October 30th. The game software company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.46. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Electronic Arts had a net margin of 18.76% and a return on equity of 26.01%. Electronic Arts’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. As a group, analysts anticipate that Electronic Arts will post 3.87 earnings per share for the current year.
In other news, CFO Blake J. Jorgensen sold 2,617 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $85.02, for a total value of $222,497.34. Following the completion of the transaction, the chief financial officer now owns 101,774 shares of the company’s stock, valued at $8,652,825.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Wilson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $84.36, for a total value of $759,240.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,950 shares of company stock valued at $8,818,478. Insiders own 2.24% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EA. Massachusetts Financial Services Co. MA increased its stake in shares of Electronic Arts by 31.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,697,249 shares of the game software company’s stock valued at $1,168,422,000 after buying an additional 2,339,158 shares during the period. Advisors Asset Management Inc. boosted its holdings in Electronic Arts by 3,732.8% in the second quarter. Advisors Asset Management Inc. now owns 951,463 shares of the game software company’s stock valued at $4,094,000 after acquiring an additional 926,639 shares during the last quarter. Capital Research Global Investors bought a new stake in Electronic Arts in the third quarter valued at approximately $91,323,000. Brown Advisory Inc. boosted its holdings in Electronic Arts by 25.4% in the third quarter. Brown Advisory Inc. now owns 3,666,061 shares of the game software company’s stock valued at $441,724,000 after acquiring an additional 742,742 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Electronic Arts in the third quarter valued at approximately $66,023,000. 94.84% of the stock is owned by institutional investors.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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