Electronic Arts Inc. (EA) Lowered to Hold at Vetr Inc.
Electronic Arts Inc. (NASDAQ:EA) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Thursday. They presently have a $94.20 price objective on the game software company’s stock. Vetr‘s price objective indicates a potential upside of 3.28% from the company’s previous close.
A number of other research analysts have also commented on the company. Zacks Investment Research raised Electronic Arts from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, December 27th. Mizuho upped their price objective on Electronic Arts from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Macquarie reaffirmed an “outperform” rating and issued a $88.00 price objective on shares of Electronic Arts in a report on Wednesday, February 1st. Cowen and Company reaffirmed a “market perform” rating on shares of Electronic Arts in a report on Tuesday, January 31st. Finally, Jefferies Group LLC upped their price objective on Electronic Arts from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $90.98.
Shares of Electronic Arts (NASDAQ:EA) traded up 1.74% during trading on Thursday, reaching $91.21. The company’s stock had a trading volume of 2,024,287 shares. The company has a market cap of $28.12 billion, a PE ratio of 22.14 and a beta of 0.65. Electronic Arts has a 52 week low of $61.10 and a 52 week high of $91.82. The stock’s 50 day moving average price is $89.25 and its 200 day moving average price is $83.38.
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Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, January 31st. The game software company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.15. Electronic Arts had a return on equity of 27.22% and a net margin of 28.10%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the firm posted $1.83 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts predict that Electronic Arts will post $3.83 EPS for the current year.
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In other news, EVP Peter R. Moore sold 10,000 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $81.84, for a total value of $818,400.00. Following the completion of the sale, the executive vice president now owns 43,370 shares of the company’s stock, valued at $3,549,400.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joel Linzner sold 5,000 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the completion of the sale, the executive vice president now directly owns 29,745 shares of the company’s stock, valued at approximately $2,677,050. The disclosure for this sale can be found here. Insiders sold 109,379 shares of company stock valued at $9,407,770 over the last quarter. Corporate insiders own 3.46% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its stake in shares of Electronic Arts by 3,410.0% in the fourth quarter. Bessemer Group Inc. now owns 1,404 shares of the game software company’s stock valued at $111,000 after buying an additional 1,364 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Electronic Arts during the fourth quarter valued at $118,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Electronic Arts by 270.5% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,630 shares of the game software company’s stock valued at $139,000 after buying an additional 1,190 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Electronic Arts during the third quarter valued at $140,000. Finally, Tuttle Tactical Management LLC acquired a new stake in Electronic Arts during the third quarter valued at approximately $153,000.
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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