JPMorgan Chase & Co. Cuts Electronic Arts (NASDAQ:EA) Price Target to $150.00

Electronic Arts (NASDAQ:EA) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $155.00 to $150.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the game software company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 0.53% from the stock’s previous close.

Several other brokerages have also issued reports on EA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $160.00 target price on shares of Electronic Arts in a research report on Wednesday, September 18th. Citigroup downgraded shares of Electronic Arts from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $148.00 to $161.00 in a research report on Monday, July 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $150.00 target price on shares of Electronic Arts in a report on Wednesday, September 18th. Robert W. Baird boosted their price target on Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Electronic Arts in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.41.

Electronic Arts Stock Up 2.5 %

EA stock traded up $3.59 during trading on Wednesday, hitting $149.21. 1,853,127 shares of the stock traded hands, compared to its average volume of 2,048,434. The stock has a market cap of $39.65 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.45 and a quick ratio of 1.45. Electronic Arts has a 1 year low of $121.63 and a 1 year high of $153.51. The firm’s 50 day moving average is $144.83 and its two-hundred day moving average is $139.88.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Electronic Arts had a return on equity of 16.34% and a net margin of 15.77%. On average, sell-side analysts anticipate that Electronic Arts will post 5.93 EPS for the current year.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $148.88, for a total value of $372,200.00. Following the completion of the sale, the chief executive officer now directly owns 56,747 shares of the company’s stock, valued at $8,448,493.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $148.88, for a total transaction of $372,200.00. Following the sale, the chief executive officer now owns 56,747 shares of the company’s stock, valued at approximately $8,448,493.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Luis A. Ubinas sold 2,126 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $146.77, for a total value of $312,033.02. The disclosure for this sale can be found here. Insiders have sold a total of 24,770 shares of company stock valued at $3,652,410 over the last quarter. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Electronic Arts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norden Group LLC purchased a new stake in shares of Electronic Arts during the first quarter valued at $1,236,000. First Trust Direct Indexing L.P. grew its position in shares of Electronic Arts by 7.3% in the first quarter. First Trust Direct Indexing L.P. now owns 5,430 shares of the game software company’s stock valued at $720,000 after purchasing an additional 369 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Electronic Arts during the 1st quarter worth $359,000. BNP Paribas purchased a new stake in shares of Electronic Arts in the 1st quarter valued at approximately $121,000. Finally, Daiwa Securities Group Inc. increased its stake in Electronic Arts by 3.0% during the first quarter. Daiwa Securities Group Inc. now owns 46,935 shares of the game software company’s stock worth $6,227,000 after acquiring an additional 1,378 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.