Short Interest in Electronic Arts Drops By 37.3% (EA)
Shares of Electronic Arts (NASDAQ:EA) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 16,491,716 shares, a decrease of 37.3% from the April 30th total of 26,313,792 shares, StockRatingsNetwork.com reports. Currently, 5.5% of the company’s shares are short sold. Based on an average daily trading volume, of 7,548,627 shares, the short-interest ratio is presently 2.2 days.
In other Electronic Arts news, SVP Lucy Bradshaw sold 10,000 shares of the stock on the open market in a transaction dated Friday, May 30th. The stock was sold at an average price of $34.86, for a total transaction of $348,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Electronic Arts from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 29th. They now have a $42.00 price target on the stock. Separately, analysts at Longbow Research raised their price target on shares of Electronic Arts from $36.00 to $39.00 in a research note on Friday, May 16th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company LLC raised their price target on shares of Electronic Arts from $33.00 to $40.00 in a research note on Monday, May 12th. They now have a “strong-buy” rating on the stock. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $36.18.
Electronic Arts (NASDAQ:EA) opened at 34.56 on Tuesday. Electronic Arts has a 1-year low of $20.47 and a 1-year high of $35.65. The stock has a 50-day moving average of $31.53 and a 200-day moving average of $27.15. The company has a market cap of $10.870 billion and a P/E ratio of 1351.15.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.37. The company had revenue of $914.00 million for the quarter, compared to the consensus estimate of $812.09 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was down 12.1% on a year-over-year basis. Analysts expect that Electronic Arts will post $1.89 EPS for the current fiscal year.
Electronic Arts Inc develops, markets, publishes and distributes game software content and services that can be played by consumers on a variety of video game machines and electronic devices.
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