Electronic Arts Inc. (EA) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of Electronic Arts Inc. (NASDAQ:EA) from a buy rating to a strong-buy rating in a research report released on Wednesday. The brokerage currently has $93.33 price objective on the game software company’s stock.
EA has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Electronic Arts from a buy rating to a hold rating in a report on Tuesday, October 4th. Morgan Stanley started coverage on shares of Electronic Arts in a research report on Friday, September 23rd. They issued an overweight rating and a $101.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Electronic Arts from $83.00 to $87.00 and gave the company a buy rating in a research report on Monday, September 12th. Macquarie restated an outperform rating and issued a $80.00 target price on shares of Electronic Arts in a research report on Friday, July 22nd. Finally, Bank of America Corp. restated a buy rating on shares of Electronic Arts in a research report on Friday, September 16th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Electronic Arts currently has a consensus rating of Buy and a consensus target price of $88.49.
Electronic Arts (NASDAQ:EA) opened at 81.56 on Wednesday. The stock’s 50 day moving average is $83.08 and its 200-day moving average is $75.45. Electronic Arts has a 12 month low of $53.01 and a 12 month high of $86.07. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 22.97 and a beta of 0.63.
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, beating the Zacks’ consensus estimate of ($0.02) by $0.09. The firm earned $682 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS. On average, analysts anticipate that Electronic Arts will post $3.64 earnings per share for the current fiscal year.
In other Electronic Arts news, CFO Blake J. Jorgensen sold 10,100 shares of Electronic Arts stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $76.44, for a total transaction of $772,044.00. Following the transaction, the chief financial officer now directly owns 109,700 shares of the company’s stock, valued at $8,385,468. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Wilson sold 8,000 shares of Electronic Arts stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $76.47, for a total transaction of $611,760.00. Following the transaction, the chief executive officer now directly owns 248,581 shares in the company, valued at $19,008,989.07. The disclosure for this sale can be found here. Company insiders own 3.46% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Archford Capital Strategies LLC boosted its stake 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 valued at $110,000 after buying an additional 1,351 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Electronic Arts during the second quarter valued at $168,000. SSI Investment Management Inc. bought a new stake in Electronic Arts during the second quarter valued at $200,000. Stratos Wealth Partners LTD. bought a new stake in Electronic Arts during the second quarter valued at $202,000. Finally, Wetherby Asset Management Inc. bought a new stake in Electronic Arts during the second quarter valued at $239,000.
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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