Electronic Arts Inc. (EA) Stock Rating Lowered by Vetr Inc.
Electronic Arts Inc. (NASDAQ:EA) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday. They presently have a $93.33 price objective on the game software company’s stock. Vetr‘s target price would indicate a potential upside of 11.09% from the stock’s current price.
Several other research analysts have also recently issued reports on EA. Mizuho reiterated a “buy” rating and issued a $84.00 price objective on shares of Electronic Arts in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $88.00 price objective on shares of Electronic Arts in a report on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating on shares of Electronic Arts in a report on Monday, July 11th. Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Finally, Barclays PLC increased their price objective on shares of Electronic Arts from $82.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $89.02.
Electronic Arts (NASDAQ:EA) traded up 2.05% during mid-day trading on Tuesday, reaching $84.01. 2,185,158 shares of the company’s stock traded hands. The company has a market capitalization of $25.27 billion, a price-to-earnings ratio of 23.66 and a beta of 0.63. The company has a 50-day moving average of $83.15 and a 200-day moving average of $75.94. 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 earnings results on Tuesday, August 2nd. The game software company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.09. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The firm earned $682 million during the quarter, compared to analysts’ expectations of $652.64 million. During the same quarter in the prior year, the firm earned $0.15 EPS. Electronic Arts’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Electronic Arts will post $3.64 EPS for the current year.
In other news, CFO Blake J. Jorgensen sold 10,100 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $76.44, for a total transaction of $772,044.00. Following the completion of the transaction, the chief financial officer now directly owns 109,700 shares of the company’s stock, valued at approximately $8,385,468. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter R. Moore sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $83.81, for a total transaction of $838,100.00. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in EA. Archford Capital Strategies LLC increased 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 last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Electronic Arts during the second quarter worth approximately $168,000. Starfire Investment Advisers Inc. acquired a new position in Electronic Arts during the third quarter worth approximately $220,000. SSI Investment Management Inc. acquired a new position in Electronic Arts during the second quarter worth approximately $200,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Electronic Arts during the second quarter worth approximately $202,000.
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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