Electronic Arts Inc. (EA) Downgraded by Vetr Inc. to “Buy”
Vetr downgraded shares of Electronic Arts Inc. (NASDAQ:EA) from a strong-buy rating to a buy rating in a research note released on Monday. They currently have $95.23 target price on the game software company’s stock.
Several other analysts also recently issued reports on the company. Morgan Stanley began coverage on Electronic Arts in a report on Friday, September 23rd. They set an overweight rating and a $101.00 price objective on the stock. Benchmark Co. reiterated a hold rating and issued a $98.00 target price on shares of Electronic Arts in a report on Thursday, September 22nd. Bank of America Corp. reiterated a buy rating on shares of Electronic Arts in a report on Friday, September 16th. Stifel Nicolaus upped their target price on Electronic Arts from $83.00 to $87.00 and gave the company a buy rating in a report on Monday, September 12th. Finally, Zacks Investment Research upgraded Electronic Arts from a hold rating to a buy rating and set a $92.00 target price on the stock in a report on Thursday, August 25th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $88.59.
Electronic Arts (NASDAQ:EA) traded down 0.076% on Monday, hitting $85.345. 197,673 shares of the stock were exchanged. The company’s 50 day moving average price is $82.33 and its 200-day moving average price is $74.60. The company has a market cap of $25.67 billion, a P/E ratio of 24.041 and a beta of 0.63. Electronic Arts has a one year low of $53.01 and a one year high of $86.07.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $682 million for the quarter, compared to the consensus estimate of $652.64 million. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. Equities research analysts predict that Electronic Arts will post $3.64 EPS for the current fiscal year.
In other Electronic Arts news, CEO Andrew Wilson sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $85.03, for a total transaction of $4,251,500.00. Following the transaction, the chief executive officer now owns 290,581 shares in the company, valued at $24,708,102.43. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Joel Linzner sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $77.78, for a total value of $311,120.00. Following the transaction, the executive vice president now owns 105,848 shares in the company, valued at approximately $8,232,857.44. The disclosure for this sale can be found here. 3.46% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of EA. FMR LLC boosted 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 period. Vanguard Group Inc. boosted its position in shares of Electronic Arts by 0.8% in the second quarter. Vanguard Group Inc. now owns 26,751,707 shares of the game software company’s stock worth $2,026,708,000 after buying an additional 202,429 shares during the period. Jackson Square Partners LLC boosted its position in shares of 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 worth $885,415,000 after buying an additional 1,509,427 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Electronic Arts by 2.2% in the second quarter. Ameriprise Financial Inc. now owns 11,877,969 shares of the game software company’s stock worth $899,870,000 after buying an additional 254,752 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Electronic Arts by 2.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,194,060 shares of the game software company’s stock worth $620,782,000 after buying an additional 191,899 shares during the period.
About Electronic Arts
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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