Morgan Stanley started coverage on shares of Electronic Arts Inc. (NASDAQ:EA) in a report published on Friday morning. The brokerage issued an overweight rating and a $101.00 price objective on the game software company’s stock.
Several other equities research analysts have also recently issued reports on EA. Mizuho reaffirmed a buy rating and set a $84.00 price target on shares of Electronic Arts in a research note on Wednesday, August 3rd. Pacific Crest reaffirmed a hold rating on shares of Electronic Arts in a research note on Saturday, June 4th. Jefferies Group reaffirmed a buy rating on shares of Electronic Arts in a research note on Monday, July 11th. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $88.00 price target on shares of Electronic Arts in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research cut shares of Electronic Arts from a buy rating to a hold rating in a research note on Friday, July 1st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $88.33.
Electronic Arts (NASDAQ:EA) traded down 0.421% during midday trading on Friday, hitting $83.905. 259,787 shares of the stock were exchanged. The stock has a market cap of $25.24 billion, a price-to-earnings ratio of 23.635 and a beta of 0.72. Electronic Arts has a 12-month low of $53.01 and a 12-month high of $84.50. The firm has a 50 day moving average of $81.27 and a 200-day moving average of $73.59.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, beating 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 firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. On average, equities analysts expect that Electronic Arts will post $3.63 earnings per share for the current year.
In other Electronic Arts news, EVP Joel Linzner sold 23,257 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $79.71, for a total value of $1,853,815.47. Following the sale, the executive vice president now directly owns 85,402 shares in the company, valued at $6,807,393.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Laura Miele sold 2,600 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $82.21, for a total transaction of $213,746.00. The disclosure for this sale can be found here. Corporate insiders own 3.46% of the company’s stock.
A number of large investors have recently modified their holdings of EA. Archford Capital Strategies LLC boosted its stake 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 valued at $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 $168,000. SSI Investment Management Inc. bought a new position in shares of Electronic Arts during the second quarter worth $200,000. Stratos Wealth Partners LTD. bought a new position in shares of Electronic Arts during the second quarter worth $202,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of Electronic Arts during the second quarter worth $239,000.
Electronic Arts Company Profile
Electronic Arts Inc is a game software content and services provider. The Company develops, markets, publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield, Mass Effect, Need for Speed, Dragon Age, The Sims, Bejeweled and Plants v.
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