Electronic Arts Inc. (EA) Price Target Increased to $94.00 by Analysts at Oppenheimer Holdings Inc.
Electronic Arts Inc. (NASDAQ:EA) had its target price raised by Oppenheimer Holdings Inc. from $88.00 to $94.00 in a research report report published on Friday morning. Oppenheimer Holdings Inc. currently has an outperform rating on the game software company’s stock.
A number of other research analysts have also recently commented on EA. Mizuho reissued a buy rating and issued a $84.00 price target on shares of Electronic Arts in a report on Wednesday, August 3rd. Jefferies Group reissued a buy rating on shares of Electronic Arts in a report on Monday, July 11th. Zacks Investment Research cut Electronic Arts from a buy rating to a hold rating in a report on Friday, July 1st. Barclays PLC upped their price objective on Electronic Arts from $82.00 to $88.00 and gave the stock an overweight rating in a report on Wednesday, August 3rd. Finally, Vetr raised Electronic Arts from a sell rating to a buy rating and set a $80.46 price objective on the stock in a report on Wednesday, June 22nd. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $89.02.
Shares of Electronic Arts (NASDAQ:EA) traded down 0.01% on Friday, hitting $82.58. 780,081 shares of the stock traded hands. The firm has a market cap of $24.84 billion, a PE ratio of 23.26 and a beta of 0.63. The firm has a 50 day moving average price of $83.09 and a 200 day moving average price of $75.63. Electronic Arts has a 52-week low of $53.01 and a 52-week high of $86.07.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate 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 had revenue of $682 million for the quarter, compared to analysts’ expectations of $652.64 million. During the same period in the previous year, the firm earned $0.15 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts forecast that Electronic Arts will post $3.64 EPS for the current year.
In other news, CFO Blake J. Jorgensen sold 10,100 shares of Electronic Arts stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $76.44, for a total value of $772,044.00. Following the sale, the chief financial officer now directly owns 109,700 shares of the company’s stock, valued at $8,385,468. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura Miele sold 2,600 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $82.21, for a total value of $213,746.00. The disclosure for this sale can be found here. 3.46% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Sarasin & Partners LLP increased its position in shares of Electronic Arts by 2.5% in the third quarter. Sarasin & Partners LLP now owns 813,072 shares of the game software company’s stock worth $69,436,000 after buying an additional 19,866 shares during the last quarter. National Pension Service increased its position in shares of Electronic Arts by 8.6% in the third quarter. National Pension Service now owns 239,797 shares of the game software company’s stock worth $20,479,000 after buying an additional 19,018 shares during the last quarter. Private Trust Co. NA increased its position in shares of Electronic Arts by 19.5% in the third quarter. Private Trust Co. NA now owns 4,178 shares of the game software company’s stock worth $356,000 after buying an additional 683 shares during the last quarter. Highland Capital Management LLC bought a new position in shares of Electronic Arts during the third quarter worth approximately $955,000. Finally, MSI Financial Services Inc increased its position in shares of Electronic Arts by 7.8% in the third quarter. MSI Financial Services Inc now owns 6,045 shares of the game software company’s stock worth $517,000 after buying an additional 435 shares during the last quarter.
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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