Electronic Arts Inc. (EA) Lifted to Strong-Buy at Vetr Inc.
Electronic Arts Inc. (NASDAQ:EA) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday. The firm presently has a $93.33 price objective on the game software company’s stock. Vetr‘s price target suggests a potential upside of 13.09% from the company’s current price.
A number of other equities analysts have also weighed in on EA. Mizuho reissued a “buy” rating and set a $84.00 price objective on shares of Electronic Arts in a research note on Wednesday, August 3rd. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $88.00 price objective on shares of Electronic Arts in a research note on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating on shares of Electronic Arts in a research note on Monday, July 11th. Zacks Investment Research lowered Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Barclays PLC boosted their price objective on Electronic Arts from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Five 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. The stock has a consensus rating of “Buy” and a consensus price target of $88.49.
Electronic Arts (NASDAQ:EA) traded down 1.01% during trading on Wednesday, hitting $82.53. The stock had a trading volume of 2,395,223 shares. The company has a market cap of $24.82 billion, a P/E ratio of 23.25 and a beta of 0.63. Electronic Arts has a one year low of $53.01 and a one year high of $86.07. The firm has a 50 day moving average of $83.08 and a 200-day moving average of $75.45.
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Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $682 million for the quarter, compared to analyst estimates of $652.64 million. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Equities analysts anticipate that Electronic Arts will post $3.64 earnings per share for the current fiscal year.
In related news, CFO Blake J. Jorgensen sold 10,100 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $76.44, for a total value of $772,044.00. Following the completion of the sale, the chief financial officer now directly owns 109,700 shares of the company’s stock, valued at approximately $8,385,468. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter R. Moore sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $83.81, for a total value of $838,100.00. The disclosure for this sale can be found here. 3.46% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Menta Capital LLC purchased a new stake in shares of Electronic Arts during the first quarter worth about $450,000. M&T Bank Corp boosted its stake in Electronic Arts by 20.5% in the first quarter. M&T Bank Corp now owns 79,934 shares of the game software company’s stock worth $5,285,000 after buying an additional 13,592 shares during the last quarter. Aviva PLC boosted its stake in Electronic Arts by 0.4% in the first quarter. Aviva PLC now owns 191,904 shares of the game software company’s stock worth $12,687,000 after buying an additional 786 shares during the last quarter. BB&T Securities LLC bought a new stake in Electronic Arts during the first quarter worth $406,000. Finally, Pegasus Partners Ltd. bought a new stake in Electronic Arts during the first quarter worth $637,000.
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.
To view Vetr’s full report, visit Vetr’s official website.
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