Morgan Stanley Raises Electronic Arts (NASDAQ:EA) Price Target to $148.00

Electronic Arts (NASDAQ:EA) had its price target boosted by Morgan Stanley from $135.00 to $148.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the game software company’s stock.

Several other analysts have also issued reports on EA. Wedbush restated an “outperform” rating and issued a $173.00 target price on shares of Electronic Arts in a research note on Thursday, January 23rd. BNP Paribas cut Electronic Arts from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a report on Monday, January 27th. Robert W. Baird lowered their target price on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Stifel Nicolaus reduced their price target on Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, Moffett Nathanson raised Electronic Arts from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Friday, January 31st. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $161.83.

Electronic Arts Stock Performance

EA opened at $153.30 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average price is $143.36 and its two-hundred day moving average price is $144.90. The company has a market cap of $39.95 billion, a price-to-earnings ratio of 39.01, a PEG ratio of 3.58 and a beta of 0.74. Electronic Arts has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, February 4th. The game software company reported $2.34 EPS for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. On average, analysts expect that Electronic Arts will post 4.71 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.50%. The ex-dividend date is Wednesday, May 28th. Electronic Arts’s payout ratio is 19.34%.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $130.14, for a total transaction of $650,700.00. Following the completion of the transaction, the chief executive officer now owns 37,615 shares of the company’s stock, valued at approximately $4,895,216.10. This represents a 11.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laura Miele sold 2,500 shares of Electronic Arts stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $155.57, for a total value of $388,925.00. Following the completion of the transaction, the insider now directly owns 40,189 shares in the company, valued at $6,252,202.73. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,000 shares of company stock valued at $3,118,120. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

Hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. lifted its position in Electronic Arts by 15.0% during the 1st quarter. Financial Management Professionals Inc. now owns 560 shares of the game software company’s stock valued at $81,000 after purchasing an additional 73 shares during the period. Claro Advisors LLC raised its stake in Electronic Arts by 3.4% during the 4th quarter. Claro Advisors LLC now owns 2,285 shares of the game software company’s stock worth $334,000 after buying an additional 75 shares during the period. Bank of Jackson Hole Trust lifted its holdings in shares of Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Electronic Arts by 34.2% in the first quarter. Whipplewood Advisors LLC now owns 298 shares of the game software company’s stock valued at $43,000 after buying an additional 76 shares during the period. Finally, Clarius Group LLC increased its holdings in Electronic Arts by 3.6% during the 1st quarter. Clarius Group LLC now owns 2,204 shares of the game software company’s stock worth $319,000 after purchasing an additional 77 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.