Electronic Arts Inc. (NASDAQ:EA) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Wednesday. The firm currently has a $93.33 price target on the game software company’s stock. Vetr‘s price objective points to a potential upside of 13.09% from the company’s previous close.
A number of other analysts have also weighed in on EA. Mizuho reissued a “buy” rating and issued a $84.00 price target on shares of Electronic Arts in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $88.00 price target on shares of Electronic Arts in a report on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating on shares of Electronic Arts in a report on Monday, July 11th. Zacks Investment Research lowered shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Finally, Barclays PLC raised their price target on shares of Electronic Arts from $82.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $88.49.
Electronic Arts (NASDAQ:EA) traded down 1.01% during mid-day trading on Wednesday, hitting $82.53. The stock had a trading volume of 2,395,223 shares. The company has a market cap of $24.82 billion, a P/E ratio of 23.25 and a beta of 0.63. The company has a 50-day moving average price of $83.08 and a 200 day moving average price of $75.45. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $86.07.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. The business earned $682 million during the quarter, compared to analyst estimates of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. Electronic Arts’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. Equities research analysts forecast that Electronic Arts will post $3.64 EPS for the current fiscal year.
In related news, EVP Peter R. Moore sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $83.81, for a total value of $838,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Blake J. Jorgensen sold 10,100 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $76.44, for a total transaction of $772,044.00. Following the completion of the transaction, the chief financial officer now owns 109,700 shares in the company, valued at approximately $8,385,468. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Archford Capital Strategies LLC raised its position in shares of Electronic Arts by 1,407.3% in the second quarter. Archford Capital Strategies LLC now owns 1,447 shares of the game software company’s stock worth $110,000 after buying an additional 1,351 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Electronic Arts during the second quarter worth approximately $168,000. SSI Investment Management Inc. bought a new position in shares of Electronic Arts during the second quarter worth approximately $200,000. Stratos Wealth Partners LTD. bought a new position in shares of Electronic Arts during the second quarter worth approximately $202,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of Electronic Arts during the second quarter worth approximately $239,000.
Electronic Arts Company Profile
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.