Benchmark reiterated their buy rating on shares of Electronic Arts (NASDAQ:EA) in a research report released on Wednesday morning, Briefing.com Automated Import reports. Benchmark currently has a $129.00 price objective on the game software company’s stock, up from their previous price objective of $120.00.
EA has been the subject of several other research reports. Zacks Investment Research lowered Electronic Arts from a hold rating to a sell rating in a research note on Wednesday, January 23rd. Stephens initiated coverage on Electronic Arts in a research note on Thursday, January 10th. They issued an overweight rating and a $125.00 price target for the company. Bank of America upgraded Electronic Arts from a neutral rating to a buy rating and lifted their price target for the company from $95.00 to $110.00 in a research note on Monday, February 11th. Robert W. Baird lifted their price target on Electronic Arts to $106.00 and gave the company an outperform rating in a research note on Tuesday, February 12th. Finally, BMO Capital Markets boosted their price objective on Electronic Arts from $96.00 to $116.00 and gave the stock an outperform rating in a research note on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $111.32.
Shares of NASDAQ EA traded down $0.54 during trading on Wednesday, reaching $93.34. 3,896,852 shares of the company traded hands, compared to its average volume of 6,755,774. The firm has a market capitalization of $27.71 billion, a P/E ratio of 27.13, a PEG ratio of 1.53 and a beta of 1.12. Electronic Arts has a 12-month low of $73.91 and a 12-month high of $151.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.99 and a current ratio of 2.99.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, May 7th. The game software company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.43. Electronic Arts had a return on equity of 23.21% and a net margin of 26.77%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $1.31 EPS. Electronic Arts’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Electronic Arts will post 3.18 earnings per share for the current year.
In other news, General Counsel Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $102.38, for a total transaction of $102,380.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura Miele sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $95.60, for a total value of $119,500.00. Following the transaction, the insider now owns 3,008 shares in the company, valued at $287,564.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,500 shares of company stock worth $8,306,070. Insiders own 2.24% of the company’s stock.
Several institutional investors have recently modified their holdings of EA. Wetherby Asset Management Inc. lifted its holdings in Electronic Arts by 2.4% in the first quarter. Wetherby Asset Management Inc. now owns 4,521 shares of the game software company’s stock valued at $459,000 after acquiring an additional 107 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Electronic Arts by 4.8% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,715 shares of the game software company’s stock valued at $214,000 after purchasing an additional 124 shares during the period. Dock Street Asset Management Inc. raised its position in Electronic Arts by 0.7% in the fourth quarter. Dock Street Asset Management Inc. now owns 21,449 shares of the game software company’s stock valued at $1,693,000 after purchasing an additional 140 shares during the period. Berman Capital Advisors LLC raised its position in Electronic Arts by 70.6% in the first quarter. Berman Capital Advisors LLC now owns 343 shares of the game software company’s stock valued at $34,000 after purchasing an additional 142 shares during the period. Finally, Whittier Trust Co. raised its position in Electronic Arts by 37.0% in the fourth quarter. Whittier Trust Co. now owns 529 shares of the game software company’s stock valued at $42,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 92.86% of the company’s stock.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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