Electronic Arts Inc. (EA) Cut to “Buy” at Vetr Inc.
Electronic Arts Inc. (NASDAQ:EA) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday. They presently have a $93.33 target price on the game software company’s stock. Vetr‘s price target indicates a potential upside of 11.09% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Benchmark Co. reissued a “hold” rating and set a $98.00 target price on shares of Electronic Arts in a report on Thursday, September 22nd. Bank of America Corp. reissued a “buy” rating on shares of Electronic Arts in a report on Friday, September 16th. Morgan Stanley began coverage on shares of Electronic Arts in a report on Friday, September 23rd. They set an “overweight” rating and a $101.00 target price for the company. Finally, Stifel Nicolaus raised 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 Monday. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $89.02.
Shares of Electronic Arts (NASDAQ:EA) traded up 2.05% on Tuesday, reaching $84.01. 2,185,158 shares of the company traded hands. The stock has a market capitalization of $25.27 billion, a price-to-earnings ratio of 23.66 and a beta of 0.63. 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 of $83.15 and a 200-day moving average of $75.94.
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Electronic Arts (NASDAQ:EA) last posted 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 business earned $682 million during the quarter, compared to analysts’ expectations of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. Analysts anticipate that Electronic Arts will post $3.64 earnings per share for the current fiscal year.
In other news, EVP Peter R. Moore sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $83.81, for a total value of $838,100.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick Soderlund sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $81.38, for a total transaction of $651,040.00. Following the completion of the sale, the executive vice president now directly owns 138,370 shares in the company, valued at $11,260,550.60. The disclosure for this sale can be found here. 3.46% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in EA. Menta Capital LLC acquired a new position in shares of Electronic Arts during the first quarter worth $450,000. Aviva PLC boosted its position in shares of 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 period. BB&T Securities LLC acquired a new position in shares of Electronic Arts during the first quarter worth $406,000. Pegasus Partners Ltd. acquired a new position in shares of Electronic Arts during the first quarter worth $637,000. Finally, Riverhead Capital Management LLC boosted its position in shares of Electronic Arts by 478.4% in the first quarter. Riverhead Capital Management LLC now owns 307,111 shares of the game software company’s stock worth $20,304,000 after buying an additional 254,017 shares during the period.
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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