Electronic Arts Inc. (EA) Given a $130.00 Price Target at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. set a $130.00 price objective on Electronic Arts Inc. (NASDAQ:EA) in a research note issued to investors on Friday morning. The brokerage currently has a buy rating on the game software company’s stock.
Other equities analysts also recently issued reports about the company. Piper Jaffray Companies reaffirmed a buy rating and set a $99.00 price target on shares of Electronic Arts in a research report on Monday, May 1st. Vetr raised Electronic Arts from a strong sell rating to a buy rating and set a $94.20 price target on the stock in a research report on Wednesday, April 12th. Jefferies Group LLC reaffirmed a buy rating and set a $110.00 price target on shares of Electronic Arts in a research report on Monday, April 10th. MKM Partners reaffirmed a buy rating and set a $109.00 price target (up from $95.00) on shares of Electronic Arts in a research report on Friday, May 5th. Finally, Mizuho set a $115.00 price target on Electronic Arts and gave the stock a buy rating in a research report on Wednesday, May 10th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $115.19.
Shares of Electronic Arts (EA) opened at 117.00 on Friday. The firm has a 50 day moving average price of $110.82 and a 200-day moving average price of $97.50. Electronic Arts has a 12-month low of $73.74 and a 12-month high of $120.25. The company has a market cap of $36.15 billion, a price-to-earnings ratio of 31.33 and a beta of 0.70.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share. On average, equities analysts expect that Electronic Arts will post $4.22 earnings per share for the current fiscal year.
Electronic Arts declared that its board has initiated a stock repurchase plan on Tuesday, May 9th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the game software company to purchase up to 45% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Electronic Arts news, CEO Andrew Wilson sold 10,965 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $108.00, for a total transaction of $1,184,220.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $104.56, for a total value of $1,045,600.00. Following the sale, the chief financial officer now directly owns 239,614 shares in the company, valued at $25,054,039.84. The disclosure for this sale can be found here. Insiders have sold a total of 332,857 shares of company stock worth $36,274,101 over the last ninety days. 2.55% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. TimesSquare Capital Management LLC increased its stake in shares of Electronic Arts by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 767,500 shares of the game software company’s stock valued at $68,707,000 after buying an additional 3,600 shares in the last quarter. Foundry Partners LLC increased its stake in shares of Electronic Arts by 17.9% in the first quarter. Foundry Partners LLC now owns 13,944 shares of the game software company’s stock valued at $1,248,000 after buying an additional 2,116 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Electronic Arts by 529.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 50,647 shares of the game software company’s stock valued at $5,354,000 after buying an additional 42,599 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Electronic Arts by 15.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock valued at $723,074,000 after buying an additional 1,064,602 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Electronic Arts by 21.2% in the first quarter. Canada Pension Plan Investment Board now owns 252,215 shares of the game software company’s stock valued at $22,578,000 after buying an additional 44,126 shares in the last quarter. 98.14% of the stock is currently owned by institutional investors.
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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