Electronic Arts Inc. (EA) Given Buy Rating at Piper Jaffray Companies
Electronic Arts Inc. (NASDAQ:EA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a note issued to investors on Thursday. They presently have a $128.00 price target on the game software company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 10.30% from the stock’s current price.
EA has been the topic of a number of other reports. Needham & Company LLC started coverage on Electronic Arts in a research report on Monday, July 17th. They set a “buy” rating and a $130.00 price target on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price target (up from $123.00) on shares of Electronic Arts in a research report on Friday, July 28th. Bank of America Corporation raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Wednesday, July 26th. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. set a $130.00 price objective on Electronic Arts and gave the stock a “buy” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Electronic Arts presently has an average rating of “Buy” and an average price target of $121.38.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $775.00 million for the quarter, compared to analysts’ expectations of $768.47 million. Electronic Arts had a return on equity of 60.45% and a net margin of 44.44%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS.
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In other news, Director Lawrence F. Probst III sold 68,072 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total value of $8,088,995.76. Following the completion of the sale, the director now owns 176,348 shares in the company, valued at $20,955,432.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $118.43, for a total value of $1,184,300.00. The disclosure for this sale can be found here. Insiders sold 197,096 shares of company stock valued at $23,460,336 in the last 90 days. Corporate insiders own 2.55% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EA. Stephens Investment Management Group LLC raised its holdings in shares of Electronic Arts by 11.5% during the first quarter. Stephens Investment Management Group LLC now owns 151,731 shares of the game software company’s stock worth $13,583,000 after acquiring an additional 15,643 shares in the last quarter. Marietta Investment Partners LLC raised its holdings in shares of Electronic Arts by 2.1% during the first quarter. Marietta Investment Partners LLC now owns 4,966 shares of the game software company’s stock worth $445,000 after acquiring an additional 100 shares in the last quarter. Strategic Global Advisors LLC raised its holdings in shares of Electronic Arts by 110.7% during the first quarter. Strategic Global Advisors LLC now owns 37,345 shares of the game software company’s stock worth $3,343,000 after acquiring an additional 19,617 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Electronic Arts by 24.1% during the first quarter. WINTON GROUP Ltd now owns 432,019 shares of the game software company’s stock worth $36,894,000 after acquiring an additional 83,792 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Electronic Arts during the first quarter worth $367,000. Institutional investors own 93.84% of the company’s stock.
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.
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