Research analysts at Needham & Company LLC assumed coverage on shares of Electronic Arts Inc. (NASDAQ:EA) in a report issued on Monday, July 17th, MarketBeat.com reports. The firm set a “buy” rating and a $130.00 price target on the game software company’s stock. Needham & Company LLC’s target price indicates a potential upside of 12.60% from the company’s current price.
Several other equities analysts also recently weighed in on EA. Piper Jaffray Companies reiterated a “buy” rating and issued a $99.00 price target on shares of Electronic Arts in a report on Monday, May 1st. Vetr raised shares of Electronic Arts from a “strong sell” rating to a “buy” rating and set a $94.20 price objective on the stock in a research note on Wednesday, April 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Electronic Arts in a research note on Monday, April 10th. MKM Partners reiterated a “buy” rating and set a $109.00 target price (up previously from $95.00) on shares of Electronic Arts in a research report on Friday, May 5th. Finally, Mizuho set a $115.00 target price on Electronic Arts and gave the company a “buy” rating in a research report on Wednesday, May 10th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $115.19.
Shares of Electronic Arts (NASDAQ EA) traded up 1.28% during mid-day trading on Monday, reaching $115.45. 1,584,977 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $112.14 and a 200 day moving average price of $99.46. Electronic Arts has a 52-week low of $73.74 and a 52-week high of $120.25. The firm has a market cap of $35.64 billion, a P/E ratio of 30.91 and a beta of 0.72.
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, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts forecast that Electronic Arts will post $4.24 earnings per share for the current fiscal year.
Electronic Arts declared that its board has initiated a share buyback plan on Tuesday, May 9th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the game software company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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In related news, EVP Patrick Soderlund sold 55,163 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $107.14, for a total transaction of $5,910,163.82. Following the transaction, the executive vice president now owns 213,689 shares of the company’s stock, valued at $22,894,639.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Wilson sold 10,058 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.00, for a total value of $1,176,786.00. The disclosure for this sale can be found here. In the last three months, insiders sold 336,915 shares of company stock worth $37,032,377. Corporate insiders own 2.55% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America raised its stake in Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after buying an additional 34 shares during the period. Invictus RG raised its stake in Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after buying an additional 1,148 shares during the period. D. Scott Neal Inc. purchased a new stake in Electronic Arts during the second quarter valued at $120,000. Captrust Financial Advisors purchased a new stake in Electronic Arts during the second quarter valued at $195,000. Finally, Commerce Bank purchased a new stake in Electronic Arts during the first quarter valued at $203,000. 98.02% of the stock is currently owned by institutional investors.
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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