Electronic Arts Inc. (EA) Downgraded by Vetr Inc. to Buy
Electronic Arts Inc. (NASDAQ:EA) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They presently have a $95.23 price target on the game software company’s stock. Vetr‘s price target would suggest a potential upside of 13.63% from the stock’s current price.
Other research analysts have also issued research reports about the stock. Mizuho reiterated a “buy” rating and set a $84.00 price objective on shares of Electronic Arts in a research note on Wednesday, August 3rd. MKM Partners upped their price target on shares of Electronic Arts from $87.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Bank of America Corp. restated a “buy” rating on shares of Electronic Arts in a research note on Monday, June 13th. Jefferies Group restated a “buy” rating and set a $105.00 price target on shares of Electronic Arts in a research note on Monday, June 13th. Finally, Stifel Nicolaus restated a “buy” rating and set a $80.00 price target on shares of Electronic Arts in a research note on Tuesday, July 12th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $88.59.
Shares of Electronic Arts (NASDAQ:EA) traded down 0.91% during midday trading on Monday, reaching $83.81. 3,076,877 shares of the company traded hands. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $86.07. The company has a 50 day moving average price of $82.93 and a 200 day moving average price of $75.04. The company has a market capitalization of $25.21 billion, a PE ratio of 23.61 and a beta of 0.63.
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Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share 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 company earned $0.15 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that Electronic Arts will post $3.64 earnings per share for the current year.
In related news, EVP Laura Miele sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $82.21, for a total transaction of $213,746.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joel Linzner sold 8,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $85.34, for a total transaction of $682,720.00. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in 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 last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Electronic Arts during the second quarter worth $168,000. SSI Investment Management Inc. bought a new stake in shares of Electronic Arts during the second quarter worth $200,000. Stratos Wealth Partners LTD. bought a new stake in shares of Electronic Arts during the second quarter worth $202,000. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Electronic Arts during the second quarter worth $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.
To view Vetr’s full report, visit Vetr’s official website.
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