Wedbush restated their buy rating on shares of Electronic Arts Inc. (NASDAQ:EA) in a research note published on Friday morning.

EA has been the subject of a number of other reports. Pacific Crest restated an overweight rating and issued a $112.00 price objective on shares of Electronic Arts in a report on Wednesday, April 26th. Needham & Company LLC initiated coverage on shares of Electronic Arts in a report on Monday, July 17th. They issued a buy rating and a $130.00 price objective for the company. Vetr upgraded shares of Electronic Arts from a hold rating to a buy rating and set a $99.98 price objective for the company in a report on Monday, May 8th. Zacks Investment Research lowered shares of Electronic Arts from a buy rating to a hold rating in a report on Tuesday, April 4th. Finally, Jefferies Group LLC reiterated a buy rating and set a $135.00 target price (up from $123.00) on shares of Electronic Arts in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Electronic Arts currently has a consensus rating of Buy and an average price target of $115.19.

Shares of Electronic Arts (NASDAQ EA) opened at 116.74 on Friday. The stock has a 50 day moving average price of $110.82 and a 200 day moving average price of $97.50. Electronic Arts has a 52 week low of $73.74 and a 52 week high of $120.25. The stock has a market capitalization of $36.07 billion, a P/E ratio of 31.26 and a beta of 0.70.

Electronic Arts (NASDAQ:EA) last released its earnings results 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 during the quarter, compared to analyst estimates of $768.47 million. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. On average, equities research analysts expect that Electronic Arts will post $4.22 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Electronic Arts’ (NASDAQ:EA) “Buy” Rating Reaffirmed at Wedbush” was published by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.watchlistnews.com/electronic-arts-nasdaqea-buy-rating-reaffirmed-at-wedbush/1465460.html.

Electronic Arts announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 9th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the game software company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

In related news, CEO Andrew Wilson sold 10,965 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $108.00, for a total value of $1,184,220.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Peter R. Moore sold 10,000 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $94.01, for a total transaction of $940,100.00. Following the completion of the sale, the executive vice president now directly owns 12,122 shares in the company, valued at $1,139,589.22. 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 90 days. Corporate insiders own 2.55% of the company’s stock.

A number of hedge funds have recently bought and sold shares of EA. Guardian Life Insurance Co. of America increased its position 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 worth $107,000 after buying an additional 34 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its position in Electronic Arts by 0.9% in the first quarter. Jaffetilchin Investment Partners LLC now owns 4,943 shares of the game software company’s stock worth $442,000 after buying an additional 45 shares in the last quarter. ProVise Management Group LLC increased its position in Electronic Arts by 1.3% in the first quarter. ProVise Management Group LLC now owns 4,288 shares of the game software company’s stock worth $384,000 after buying an additional 53 shares in the last quarter. San Francisco Sentry Investment Group CA increased its position in Electronic Arts by 1.4% in the first quarter. San Francisco Sentry Investment Group CA now owns 4,962 shares of the game software company’s stock worth $444,000 after buying an additional 67 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in Electronic Arts by 0.6% in the second quarter. NEXT Financial Group Inc now owns 12,316 shares of the game software company’s stock worth $1,302,000 after buying an additional 70 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.

Analyst Recommendations for Electronic Arts (NASDAQ:EA)

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