Vetr Inc. Upgrades Electronic Arts Inc. (EA) to “Strong-Buy”
Electronic Arts Inc. (NASDAQ:EA) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage currently has a $93.33 target price on the game software company’s stock. Vetr‘s price target points to a potential upside of 14.15% from the company’s current price.
Several other equities analysts have also commented on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Electronic Arts in a research report on Wednesday, August 3rd. Mizuho reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Electronic Arts in a research report on Wednesday, August 3rd. MKM Partners raised their price target on shares of Electronic Arts from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating on shares of Electronic Arts in a research report on Monday, August 1st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $80.00 price target on shares of Electronic Arts in a research report on Tuesday, July 12th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $88.49.
Electronic Arts (NASDAQ:EA) opened at 81.76 on Wednesday. Electronic Arts has a 52-week low of $53.01 and a 52-week high of $86.07. The firm has a 50 day moving average of $83.06 and a 200-day moving average of $75.50. The company has a market capitalization of $24.59 billion, a price-to-earnings ratio of 23.03 and a beta of 0.63.
Electronic Arts (NASDAQ:EA) last released 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. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The business had revenue of $682 million for the quarter, compared to analysts’ expectations of $652.64 million. During the same period last year, the business earned $0.15 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that Electronic Arts will post $3.64 EPS for the current year.
In other Electronic Arts news, EVP Laura Miele sold 2,600 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $82.21, for a total transaction of $213,746.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Blake J. Jorgensen sold 10,100 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $76.44, for a total transaction of $772,044.00. Following the sale, the chief financial officer now owns 109,700 shares in the company, valued at $8,385,468. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of EA. Archford Capital Strategies LLC increased 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 in the last quarter. 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.
About Electronic Arts
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.
To view Vetr’s full report, visit Vetr’s official website.
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