Oppenheimer Holdings Inc. Increases Electronic Arts Inc. (EA) Price Target to $94.00
Electronic Arts Inc. (NASDAQ:EA) had its target price boosted by equities researchers at Oppenheimer Holdings Inc. from $88.00 to $94.00 in a research note issued to investors on Friday. The brokerage currently has an “outperform” rating on the game software company’s stock. Oppenheimer Holdings Inc.’s target price suggests a potential upside of 14.97% from the stock’s current price.
EA has been the subject of a number of other research reports. Vetr raised shares of Electronic Arts from a “sell” rating to a “buy” rating and set a $80.46 target price for the company in a report on Wednesday, June 22nd. MKM Partners increased their target price on shares of Electronic Arts from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Cowen and Company reissued an “outperform” rating and issued a $83.00 target price on shares of Electronic Arts in a report on Tuesday, August 23rd. Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Finally, Bank of America Corp. reissued a “buy” rating on shares of Electronic Arts in a report on Friday, September 16th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Electronic Arts has an average rating of “Buy” and a consensus target price of $88.81.
Electronic Arts (NASDAQ:EA) traded up 2.21% on Friday, reaching $83.57. 646,895 shares of the company traded hands. The stock has a market capitalization of $25.13 billion, a PE ratio of 23.54 and a beta of 0.63. The firm has a 50 day moving average of $83.06 and a 200-day moving average of $75.50. Electronic Arts has a one year low of $53.01 and a one year high of $86.07.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/14/oppenheimer-holdings-inc-increases-electronic-arts-inc-ea-price-target-to-94-00-2.html
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ 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 business earned $682 million during the quarter, compared to analysts’ expectations of $652.64 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. Electronic Arts’s revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Electronic Arts will post $3.64 EPS for the current year.
In related news, EVP Laura Miele sold 2,600 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $82.21, for a total value of $213,746.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Blake J. Jorgensen sold 10,100 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 109,700 shares in the company, valued at $8,385,468. The disclosure for this sale can be found here. Insiders own 3.46% of the company’s stock.
Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Electronic Arts by 13.6% in the second quarter. FMR LLC now owns 29,807,407 shares of the game software company’s stock worth $2,258,208,000 after buying an additional 3,570,117 shares in the last quarter. Lone Pine Capital LLC boosted its position in shares of Electronic Arts by 86.1% in the second quarter. Lone Pine Capital LLC now owns 3,555,356 shares of the game software company’s stock worth $269,354,000 after buying an additional 1,644,713 shares in the last quarter. Jackson Square Partners LLC boosted its position in shares of Electronic Arts by 14.3% in the first quarter. Jackson Square Partners LLC now owns 12,098,912 shares of the game software company’s stock worth $885,415,000 after buying an additional 1,509,427 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Electronic Arts by 30.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,818,390 shares of the game software company’s stock worth $365,042,000 after buying an additional 1,130,252 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Electronic Arts by 131.2% in the first quarter. Wellington Management Group LLP now owns 1,827,163 shares of the game software company’s stock worth $120,793,000 after buying an additional 1,036,789 shares in 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.
Receive News & Ratings for Electronic Arts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.