Bank of America Increases Electronic Arts (NASDAQ:EA) Price Target to $170.00

Electronic Arts (NASDAQ:EA) had its target price upped by equities researchers at Bank of America from $150.00 to $170.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the game software company’s stock. Bank of America‘s target price suggests a potential upside of 11.70% from the company’s current price.

EA has been the topic of several other reports. Citigroup cut Electronic Arts from a “buy” rating to a “neutral” rating and raised their target price for the stock from $148.00 to $161.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Electronic Arts from $148.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Roth Mkm boosted their price objective on shares of Electronic Arts from $135.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group boosted their target price on shares of Electronic Arts from $143.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $154.00 price objective on shares of Electronic Arts in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.75.

Electronic Arts Stock Performance

NASDAQ EA traded up $3.08 on Wednesday, hitting $152.20. 2,175,792 shares of the stock traded hands, compared to its average volume of 2,162,849. The business’s fifty day moving average is $139.29 and its two-hundred day moving average is $135.71. Electronic Arts has a 12 month low of $117.47 and a 12 month high of $153.51. The firm has a market capitalization of $40.44 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 2.32 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, May 7th. The game software company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a return on equity of 18.81% and a net margin of 16.83%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities analysts anticipate that Electronic Arts will post 5.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Electronic Arts news, CAO Eric Charles Kelly sold 3,000 shares of Electronic Arts stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total transaction of $401,250.00. Following the completion of the transaction, the chief accounting officer now owns 7,458 shares in the company, valued at $997,507.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Electronic Arts news, EVP Jacob J. Schatz sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $127.15, for a total transaction of $127,150.00. Following the completion of the sale, the executive vice president now owns 17,426 shares in the company, valued at $2,215,715.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Eric Charles Kelly sold 3,000 shares of Electronic Arts stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total transaction of $401,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at $997,507.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,239 shares of company stock valued at $3,197,469. Insiders own 0.22% of the company’s stock.

Institutional Trading of Electronic Arts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Electronic Arts by 14.7% during the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after purchasing an additional 3,727,251 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Electronic Arts by 496.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after acquiring an additional 2,090,504 shares during the period. Norges Bank acquired a new stake in shares of Electronic Arts during the 4th quarter worth about $281,054,000. Swedbank AB acquired a new stake in shares of Electronic Arts during the 1st quarter worth about $201,935,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of Electronic Arts during the 1st quarter worth about $189,055,000. 90.23% of the stock is currently owned by institutional investors.

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. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.