Electronic Arts Inc. (EA) PT Raised to $94.00
Electronic Arts Inc. (NASDAQ:EA) had its price objective hoisted by Oppenheimer Holdings Inc. from $88.00 to $94.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the game software company’s stock. Oppenheimer Holdings Inc.’s price objective would indicate a potential upside of 14.19% from the stock’s previous close.
Several other research analysts have also recently issued reports on the stock. Vetr cut shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $80.46 target price on the stock. in a report on Monday, July 11th. Morgan Stanley initiated coverage on shares of Electronic Arts in a report on Friday, September 23rd. They set an “overweight” rating and a $101.00 target price on the stock. BMO Capital Markets reiterated a “hold” rating on shares of Electronic Arts in a report on Thursday, June 16th. Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Finally, Argus reiterated a “hold” rating on shares of Electronic Arts in a report on Sunday, August 21st. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Electronic Arts presently has an average rating of “Buy” and an average target price of $89.02.
Shares of Electronic Arts (NASDAQ:EA) opened at 82.32 on Friday. The company has a market capitalization of $24.76 billion, a P/E ratio of 23.19 and a beta of 0.63. Electronic Arts has a 12-month low of $53.01 and a 12-month high of $86.07. The company has a 50-day moving average price of $83.12 and a 200 day moving average price of $75.88.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $682 million for the quarter, compared to analysts’ expectations of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. On average, equities analysts anticipate that Electronic Arts will post $3.64 earnings per share for the current fiscal year.
In other Electronic Arts news, EVP Peter R. Moore sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was 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 this hyperlink. Also, EVP Joel Linzner sold 8,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $85.34, for a total value of $682,720.00. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Electronic Arts by 13.6% in the second quarter. FMR LLC now owns 29,807,407 shares of the game software company’s stock worth $2,258,208,000 after buying an additional 3,570,117 shares during the last quarter. Lone Pine Capital LLC raised its position in Electronic Arts by 86.1% in the second quarter. Lone Pine Capital LLC now owns 3,555,356 shares of the game software company’s stock valued at $269,354,000 after buying an additional 1,644,713 shares in the last quarter. Jackson Square Partners LLC raised its position in Electronic Arts by 14.3% in the first quarter. Jackson Square Partners LLC now owns 12,098,912 shares of the game software company’s stock valued at $885,415,000 after buying an additional 1,509,427 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Electronic Arts by 30.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,818,390 shares of the game software company’s stock valued at $365,042,000 after buying an additional 1,130,252 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Electronic Arts by 131.2% in the first quarter. Wellington Management Group LLP now owns 1,827,163 shares of the game software company’s stock valued at $120,793,000 after buying an additional 1,036,789 shares in the last quarter.
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.
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