Electronic Arts (EA) Price Target Raised to $120.00

Electronic Arts (NASDAQ:EA) had its price objective hoisted by analysts at Needham & Company LLC to $120.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “buy” rating on the game software company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 29.41% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Benchmark boosted their target price on Electronic Arts from $120.00 to $129.00 and gave the stock a “buy” rating in a report on Wednesday. Credit Suisse Group reaffirmed an “outperform” rating and set a $115.00 price target (up previously from $110.00) on shares of Electronic Arts in a research report on Wednesday. UBS Group lifted their price target on shares of Electronic Arts to $120.00 and gave the company a “buy” rating in a research report on Wednesday. MKM Partners reaffirmed a “neutral” rating and set a $100.00 price target (up previously from $92.00) on shares of Electronic Arts in a research report on Friday, May 3rd. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Electronic Arts currently has an average rating of “Buy” and an average price target of $110.84.

Shares of Electronic Arts stock opened at $92.73 on Wednesday. The company has a market cap of $27.71 billion, a PE ratio of 26.96, a P/E/G ratio of 1.53 and a beta of 1.12. Electronic Arts has a 1-year low of $73.91 and a 1-year 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 issued its earnings results on Tuesday, May 7th. The game software company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.43. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Electronic Arts had a return on equity of 23.21% and a net margin of 26.77%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. As a group, analysts expect that Electronic Arts will post 3.18 earnings per share for the current fiscal year.

In other news, insider Chris Bruzzo sold 12,000 shares of the company’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $102.11, for a total transaction of $1,225,320.00. Following the sale, the insider now owns 41,076 shares of the company’s stock, valued at $4,194,270.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura Miele sold 1,250 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 3,008 shares in the company, valued at approximately $287,564.80. The disclosure for this sale can be found here. In the last three months, insiders sold 82,500 shares of company stock worth $8,306,070. 2.24% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Quinn Opportunity Partners LLC increased its position in shares of Electronic Arts by 150.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 10,000 shares of the game software company’s stock worth $789,000 after acquiring an additional 6,000 shares during the period. Weatherly Asset Management L. P. increased its position in shares of Electronic Arts by 42.8% during the fourth quarter. Weatherly Asset Management L. P. now owns 8,153 shares of the game software company’s stock worth $643,000 after acquiring an additional 2,445 shares during the period. Beech Hill Advisors Inc. increased its position in shares of Electronic Arts by 99.8% during the fourth quarter. Beech Hill Advisors Inc. now owns 29,925 shares of the game software company’s stock worth $2,361,000 after acquiring an additional 14,945 shares during the period. Fir Tree Capital Management LP purchased a new stake in shares of Electronic Arts during the fourth quarter worth $56,815,000. Finally, Financial Advocates Investment Management increased its position in shares of Electronic Arts by 2,318.9% during the fourth quarter. Financial Advocates Investment Management now owns 7,305 shares of the game software company’s stock worth $340,000 after acquiring an additional 7,003 shares during the period. 92.86% 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. 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.

Featured Story: Hedge Funds

The Fly

Analyst Recommendations for Electronic Arts (NASDAQ:EA)

Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.