Electronic Arts’ (EA) Buy Rating Reaffirmed at Oppenheimer
Electronic Arts (NASDAQ:EA)‘s stock had its “buy” rating reaffirmed by analysts at Oppenheimer in a report released on Wednesday. They currently have a $130.00 price objective on the game software company’s stock. Oppenheimer’s price objective would indicate a potential upside of 16.15% from the company’s current price.
A number of other equities research analysts also recently issued reports on the company. Vetr upgraded Electronic Arts from a “strong sell” rating to a “sell” rating and set a $99.63 price objective on the stock in a research report on Tuesday. Morgan Stanley downgraded Electronic Arts from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $112.00 to $126.00 in a research report on Friday, January 12th. SunTrust Banks set a $130.00 price objective on Electronic Arts and gave the stock a “buy” rating in a research report on Friday, January 12th. BMO Capital Markets upgraded Electronic Arts from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $112.39 to $97.00 in a research report on Monday, January 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Electronic Arts from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Electronic Arts has an average rating of “Buy” and a consensus price target of $122.26.
Electronic Arts (NASDAQ EA) traded down $1.21 during trading hours on Wednesday, hitting $111.92. The company’s stock had a trading volume of 3,570,700 shares, compared to its average volume of 3,856,130. The stock has a market capitalization of $34,810.00, a P/E ratio of 29.53, a P/E/G ratio of 1.86 and a beta of 0.61. Electronic Arts has a 12-month low of $78.89 and a 12-month high of $122.79. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.23.
In other news, SVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $113.60, for a total transaction of $113,600.00. Following the transaction, the senior vice president now directly owns 20,950 shares of the company’s stock, valued at $2,379,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Wilson sold 10,058 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $105.76, for a total value of $1,063,734.08. The disclosure for this sale can be found here. Insiders have sold 67,516 shares of company stock worth $7,357,395 over the last ninety days. Insiders own 2.55% of the company’s stock.
Several large investors have recently made changes to their positions in EA. Bessemer Group Inc. boosted its holdings in shares of Electronic Arts by 144.5% during the third quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock worth $157,000 after purchasing an additional 783 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Electronic Arts by 310.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after purchasing an additional 1,063 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Electronic Arts during the third quarter worth about $183,000. GHP Investment Advisors Inc. purchased a new stake in shares of Electronic Arts during the third quarter worth about $202,000. Finally, Texas Yale Capital Corp. purchased a new stake in shares of Electronic Arts during the third quarter worth about $205,000. 93.53% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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