Electronic Arts (NASDAQ:EA) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $126.00 target price on the game software company’s stock, up from their previous target price of $112.00. Morgan Stanley’s price target points to a potential upside of 11.38% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Goldman Sachs Group lowered shares of Electronic Arts from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. BMO Capital Markets dropped their target price on shares of Electronic Arts from $100.00 to $97.00 and set a “market perform” rating on the stock in a research report on Thursday, November 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $128.00 target price on shares of Electronic Arts in a research report on Thursday, October 12th. KeyCorp reaffirmed a “buy” rating and set a $134.00 target price on shares of Electronic Arts in a research report on Sunday, November 19th. Finally, Buckingham Research set a $143.00 target price on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Sunday, November 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. Electronic Arts presently has a consensus rating of “Buy” and an average price target of $122.26.
Electronic Arts (EA) opened at $113.13 on Friday. Electronic Arts has a 52-week low of $78.89 and a 52-week high of $122.79. The company has a market cap of $34,835.55, a P/E ratio of 29.77, a PEG ratio of 1.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.38 and a quick ratio of 2.38.
In other news, insider Andrew Wilson sold 10,058 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $113.81, for a total value of $1,144,700.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $113.60, for a total transaction of $113,600.00. Following the completion of the sale, the senior vice president now owns 20,950 shares in the company, valued at approximately $2,379,920. The disclosure for this sale can be found here. Insiders have sold 67,516 shares of company stock worth $7,357,395 in the last quarter. Corporate insiders own 2.55% of the company’s stock.
Several large investors have recently modified their holdings of EA. Renaissance Technologies LLC boosted its stake in shares of Electronic Arts by 928.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock valued at $273,399,000 after purchasing an additional 2,334,600 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Electronic Arts in the 3rd quarter valued at $148,789,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Electronic Arts by 145.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,784 shares of the game software company’s stock valued at $127,793,000 after purchasing an additional 715,862 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Electronic Arts by 65.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,425,278 shares of the game software company’s stock valued at $150,688,000 after purchasing an additional 561,322 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Electronic Arts by 49.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,570,034 shares of the game software company’s stock valued at $185,358,000 after purchasing an additional 520,560 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/01/14/electronic-arts-ea-stock-rating-lowered-by-morgan-stanley.html.
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.