Vetr upgraded shares of Electronic Arts Inc. (NASDAQ:EA) from a hold rating to a buy rating in a research report sent to investors on Monday morning. The firm currently has $90.20 price objective on the game software company’s stock.
A number of other research firms have also issued reports on EA. Oppenheimer Holdings Inc. reaffirmed an outperform rating and issued a $88.00 price target on shares of Electronic Arts in a research report on Wednesday, August 3rd. Pacific Crest reaffirmed a hold rating on shares of Electronic Arts in a research report on Saturday, June 4th. MKM Partners increased their price target on Electronic Arts from $87.00 to $88.00 and gave the company a buy rating in a research report on Wednesday, August 3rd. Jefferies Group reaffirmed a buy rating on shares of Electronic Arts in a research report on Monday, July 18th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $80.00 price target on shares of Electronic Arts in a research report on Tuesday, July 12th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $88.33.
Electronic Arts (NASDAQ:EA) opened at 84.26 on Monday. The firm’s 50-day moving average is $81.89 and its 200 day moving average is $74.18. The company has a market cap of $25.34 billion, a PE ratio of 23.74 and a beta of 0.72. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $85.60.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The company earned $682 million during the quarter, compared to analysts’ expectations of $652.64 million. During the same period last year, the business posted $0.15 EPS. Electronic Arts’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts predict that Electronic Arts will post $3.64 earnings per share for the current fiscal year.
In other news, EVP Joel Linzner sold 4,000 shares of the business’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $77.78, for a total value of $311,120.00. Following the completion of the transaction, the executive vice president now directly owns 105,848 shares of the company’s stock, valued at $8,232,857.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 8,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $76.47, for a total value of $611,760.00. Following the completion of the transaction, the chief executive officer now directly owns 248,581 shares of the company’s stock, valued at $19,008,989.07. The disclosure for this sale can be found here. Corporate insiders own 3.46% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC boosted its position in 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. acquired a new stake in shares of Electronic Arts during the second quarter worth approximately $168,000. SSI Investment Management Inc. acquired a new stake in shares of Electronic Arts during the second quarter worth approximately $200,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Electronic Arts during the second quarter worth approximately $202,000. Finally, Wetherby Asset Management Inc. acquired a new stake in shares of Electronic Arts during the second quarter worth approximately $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.
To view Vetr’s full report, visit Vetr’s official website.
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