Wedbush Reiterates $136.00 Price Target for Electronic Arts Inc. (EA)
Other analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. set a $130.00 price objective on Electronic Arts and gave the stock a buy rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a buy rating and set a $135.00 price objective (up previously from $123.00) on shares of Electronic Arts in a research note on Friday, July 28th. Bank of America Corporation raised Electronic Arts from a neutral rating to a buy rating and set a $131.00 price objective on the stock in a research note on Wednesday, July 26th. BidaskClub raised Electronic Arts from a hold rating to a buy rating in a research note on Monday, July 24th. Finally, Needham & Company LLC assumed coverage on Electronic Arts in a research note on Monday, July 17th. They set a buy rating and a $130.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $123.38.
Electronic Arts (EA) traded up $0.51 during mid-day trading on Wednesday, hitting $113.20. The stock had a trading volume of 2,859,092 shares, compared to its average volume of 3,338,386. The company has a current ratio of 2.38, a quick ratio of 3.01 and a debt-to-equity ratio of 0.23. The company has a market cap of $34,948.01, a price-to-earnings ratio of 29.10, a P/E/G ratio of 1.86 and a beta of 0.65.
In other Electronic Arts news, Director Lawrence F. Probst III sold 55,850 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $121.18, for a total transaction of $6,767,903.00. Following the completion of the sale, the director now directly owns 171,123 shares in the company, valued at $20,736,685.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Bruzzo sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $113.78, for a total transaction of $170,670.00. Following the sale, the executive vice president now owns 40,662 shares of the company’s stock, valued at $4,626,522.36. The disclosure for this sale can be found here. Insiders have sold 190,596 shares of company stock valued at $22,661,081 in the last quarter. 2.55% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. D. Scott Neal Inc. acquired a new stake in Electronic Arts during the second quarter worth approximately $120,000. Bessemer Group Inc. lifted its position in Electronic Arts by 144.5% during the third quarter. Bessemer Group Inc. now owns 1,325 shares of the game software company’s stock worth $157,000 after acquiring an additional 783 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Electronic Arts by 310.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after acquiring an additional 1,063 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Electronic Arts during the third quarter worth approximately $183,000. Finally, GHP Investment Advisors Inc. acquired a new stake in Electronic Arts during the third quarter worth approximately $202,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
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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