Zacks Investment Research upgraded shares of Electronic Arts Inc. (NASDAQ:EA) from a hold rating to a buy rating in a research report report published on Friday. The brokerage currently has $130.00 price objective on the game software company’s stock.
According to Zacks, “Electronic Arts' results continue to be driven by increases in digital revenues and strength in franchises like Star Wars, and EA Sports titles like FIFA 17 and Battlefield. EA has a strong pipeline of new launches that will continue to drive top-line growth. Also, shift to digital/mobile bodes well for the company along with the growing revenues from live services. Shares have outperformed the Zacks industry over the past one year. Estimates have also been stable lately ahead of the company’s Q2 earnings release. The company has mixed record of earnings surprises in recent quarters. However, the hit driven and competitive nature of video game industry begets caution.”
A number of other research analysts also recently issued reports on the stock. Vetr raised shares of Electronic Arts from a buy rating to a strong-buy rating and set a $125.00 price objective on the stock in a research report on Tuesday, July 4th. BidaskClub downgraded shares of Electronic Arts from a buy rating to a hold rating in a research report on Friday, June 30th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Electronic Arts in a research report on Friday, September 8th. They set a buy rating and a $136.00 price objective on the stock. Piper Jaffray Companies reissued a buy rating and set a $128.00 price objective on shares of Electronic Arts in a research report on Thursday, October 12th. Finally, Cowen and Company reissued a hold rating and set a $106.00 price objective on shares of Electronic Arts in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $122.75.
Electronic Arts (NASDAQ:EA) opened at 116.89 on Friday. The company has a market capitalization of $36.09 billion, a price-to-earnings ratio of 31.30 and a beta of 0.70. Electronic Arts has a 52 week low of $73.74 and a 52 week high of $122.79. The company’s 50-day moving average is $117.33 and its 200 day moving average is $111.31.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.22. The business had revenue of $775.00 million for the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. On average, analysts forecast that Electronic Arts will post $4.25 EPS for the current fiscal year.
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In other Electronic Arts news, CEO Andrew Wilson sold 10,058 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $117.00, for a total transaction of $1,176,786.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lawrence F. Probst III sold 55,850 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $121.18, for a total transaction of $6,767,903.00. Following the transaction, the director now owns 171,123 shares in the company, valued at approximately $20,736,685.14. The disclosure for this sale can be found here. Insiders have sold a total of 198,096 shares of company stock worth $23,573,936 in the last 90 days. Company insiders own 2.55% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of EA. Renaissance Technologies LLC lifted its stake in Electronic Arts by 928.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock valued at $273,399,000 after acquiring an additional 2,334,600 shares during the period. Assenagon Asset Management S.A. bought a new position in Electronic Arts during the 3rd quarter valued at about $148,789,000. Arrowstreet Capital Limited Partnership lifted its stake in Electronic Arts by 145.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,784 shares of the game software company’s stock valued at $127,793,000 after acquiring an additional 715,862 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Electronic Arts by 65.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,425,278 shares of the game software company’s stock worth $150,688,000 after purchasing an additional 561,322 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Electronic Arts by 103.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,012,999 shares of the game software company’s stock worth $107,094,000 after purchasing an additional 515,608 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.
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.
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