Electronic Arts (NASDAQ:EA) Price Target Raised to $150.00

Electronic Arts (NASDAQ:EA) had its price target raised by Needham & Company LLC from $135.00 to $150.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the game software company’s stock.

EA has been the topic of a number of other reports. Credit Suisse Group boosted their price objective on Electronic Arts from $131.00 to $133.00 and gave the company an outperform rating in a research report on Wednesday, May 6th. MKM Partners boosted their price objective on Electronic Arts from $130.00 to $144.00 and gave the company a buy rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price objective on Electronic Arts from $125.00 to $127.00 and gave the company an overweight rating in a research report on Wednesday, May 6th. BidaskClub cut Electronic Arts from a strong-buy rating to a buy rating in a research report on Thursday, June 4th. Finally, Robert W. Baird upped their price target on Electronic Arts from $130.00 to $150.00 and gave the company an outperform rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $129.31.

EA opened at $130.69 on Friday. The stock has a market cap of $37.80 billion, a PE ratio of 12.75, a P/E/G ratio of 4.61 and a beta of 0.91. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.05. Electronic Arts has a 1 year low of $85.69 and a 1 year high of $133.60. The stock’s 50 day simple moving average is $122.37 and its 200-day simple moving average is $110.93.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, May 5th. The game software company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.36. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Electronic Arts had a return on equity of 16.79% and a net margin of 54.88%. Equities analysts forecast that Electronic Arts will post 3.9 earnings per share for the current fiscal year.

In other news, insider Vijayanthimala Singh sold 500 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $98.38, for a total transaction of $49,190.00. Following the transaction, the insider now owns 8,677 shares of the company’s stock, valued at $853,643.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Chris Bruzzo sold 1,800 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $98.32, for a total value of $176,976.00. Following the transaction, the chief marketing officer now directly owns 22,326 shares in the company, valued at approximately $2,195,092.32. The disclosure for this sale can be found here. Insiders have sold 220,152 shares of company stock worth $25,181,682 in the last 90 days. Company insiders own 0.92% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of EA. Quadrant Capital Group LLC lifted its stake in shares of Electronic Arts by 72.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,869 shares of the game software company’s stock valued at $185,000 after acquiring an additional 788 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Electronic Arts by 3.8% during the fourth quarter. Victory Capital Management Inc. now owns 194,238 shares of the game software company’s stock valued at $20,883,000 after acquiring an additional 7,193 shares during the period. Private Advisor Group LLC lifted its stake in shares of Electronic Arts by 24.1% during the fourth quarter. Private Advisor Group LLC now owns 6,411 shares of the game software company’s stock valued at $689,000 after acquiring an additional 1,244 shares during the period. Martingale Asset Management L P lifted its stake in shares of Electronic Arts by 202.4% during the fourth quarter. Martingale Asset Management L P now owns 25,730 shares of the game software company’s stock valued at $2,767,000 after acquiring an additional 17,222 shares during the period. Finally, Western Wealth Management LLC acquired a new position in Electronic Arts in the fourth quarter valued at about $242,000. 87.98% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Electronic Arts (NASDAQ:EA)

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