Shares of Electronic Arts Inc. (NASDAQ:EA) have received a consensus rating of “Buy” from the twenty-seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $118.38.
Several equities research analysts recently issued reports on the company. BidaskClub cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Friday, June 30th. KeyCorp reiterated a “buy” rating on shares of Electronic Arts in a report on Sunday, July 30th. Morgan Stanley lifted their price objective on Electronic Arts from $114.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, June 7th. Benchmark Co. reiterated a “buy” rating and issued a $136.00 price objective (up from $131.00) on shares of Electronic Arts in a report on Sunday, July 30th. Finally, MKM Partners reiterated a “buy” rating and issued a $112.00 price objective (up from $109.00) on shares of Electronic Arts in a report on Monday, May 15th.
In other news, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $107.90, for a total transaction of $1,079,000.00. Following the sale, the chief financial officer now owns 229,614 shares of the company’s stock, valued at $24,775,350.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chris Bruzzo sold 1,500 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $119.54, for a total value of $179,310.00. Following the sale, the executive vice president now directly owns 30,430 shares in the company, valued at approximately $3,637,602.20. The disclosure for this sale can be found here. In the last three months, insiders sold 355,097 shares of company stock worth $40,795,378. 2.55% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in Electronic Arts by 0.7% in the second quarter. FMR LLC now owns 30,692,180 shares of the game software company’s stock valued at $3,244,778,000 after buying an additional 205,768 shares during the last quarter. Vanguard Group Inc. boosted its stake in Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after acquiring an additional 2,394,314 shares in the last quarter. BlackRock Inc. boosted its stake in Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after acquiring an additional 20,174,721 shares in the last quarter. State Street Corp boosted its stake in Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after acquiring an additional 318,704 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after acquiring an additional 1,877,351 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Electronic Arts (EA) traded up 2.46% during trading on Wednesday, reaching $121.19. The company had a trading volume of 2,282,097 shares. The company has a market capitalization of $37.41 billion, a PE ratio of 32.45 and a beta of 0.68. The stock’s 50-day moving average price is $117.53 and its 200-day moving average price is $104.53. Electronic Arts has a 52 week low of $73.74 and a 52 week high of $122.79.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company had revenue of $775 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same period in the previous year, the firm posted $0.07 EPS. Electronic Arts’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Electronic Arts will post $4.24 EPS for the current fiscal year.
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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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