Goldman Sachs Group raises Electronic Arts (NASDAQ:EA) price target to $133.00
Electronic Arts (NASDAQ:EA – Get a rating) saw its price target raised by equity analysts at Goldman Sachs Group from $125.00 to $133.00 in a research note released Thursday to investors, Fly reports. Goldman Sachs Group’s price target would suggest a potential decline of 2.07% from the stock’s previous close.
A number of other brokerages also commented on EA. StockNews.com moved shares of Electronic Arts from a “hold” rating to a “buy” rating in a Thursday, May 19 report. Wedbush lowered its price target on Electronic Arts shares from $180.00 to $164.00 in a Wednesday, May 11 report. Cowen cut his price target on Electronic Arts shares from $180.00 to $158.00 in a Wednesday, May 11 report. TheStreet took shares of Electronic Arts from a “c+” rating to a “b” rating in a Friday, May 20 report. Finally, Robert W. Baird cut his price target on Electronic Arts shares from $165.00 to $140.00 in a Wednesday, May 11 report. Five investment analysts gave the stock a hold rating and seventeen gave the stock a buy rating. According to data from MarketBeat.com, Electronic Arts currently has an average rating of “Buy” and an average target price of $155.04.
Shares of Electronic Arts Stock was trading down $3.41 during Thursday’s midday session, hitting $135.81. 2,229,395 shares were traded, against an average volume of 2,488,842. The company has a market capitalization of $38.01 billion, a price-earnings ratio of 49.21, a growth price-earnings ratio of 2 .29 and a beta of 0.81. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt ratio of 0.25. The company has a 50-day simple moving average of $127.60 and a 200-day simple moving average of $128.84. Electronic Arts has a fifty-two week low of $109.24 and a fifty-two week high of $148.93.
Electronic Arts (NASDAQ:EA – Get a rating) last announced its results on Tuesday, May 10. The gaming software company reported earnings per share (EPS) of $0.82 for the quarter, missing analyst consensus estimates of $1.04 per ($0.22). The company posted revenue of $1.75 billion for the quarter, compared to analysts’ estimates of $1.77 billion. Electronic Arts achieved a return on equity of 18.99% and a net margin of 11.29%. The company’s revenue for the quarter increased by 17.5% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $0.72. On average, research analysts predict Electronic Arts will post 5.52 EPS for the current fiscal year.
In other Electronic Arts news, CEO Andre Wilson sold 10,000 shares of the company in a transaction that took place on Tuesday, March 29. The shares were sold at an average price of $128.58, for a total transaction of $1,285,800.00. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Also, insider Jacob J. Schatz sold 1,000 shares of the company in a trade that took place on Wednesday, March 16. The stock was sold at an average price of $121.29, for a total transaction of $121,290.00. Disclosure of this sale can be found here. Insiders sold a total of 53,638 shares of the company worth $6,984,354 in the past three months. 0.65% of the shares are held by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Kentucky State Teachers’ Retirement System increased its holdings of Electronic Arts stock 56.3% in the first quarter. The Kentucky State Teachers’ Retirement System now owns 87,909 shares of the gaming software company valued at $11,121,000 after buying 31,665 additional shares last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings of Electronic Arts shares by 2.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 422,607 shares of the games software company valued at $53,464,000 after purchasing an additional 12,000 shares in the last quarter. Ninety One UK Ltd increased its holding in shares of Electronic Arts by 2.6% in the first quarter. Ninety One UK Ltd now owns 4,313,726 shares in the games software company valued at $545,729,000 after buying an additional 107,266 shares in the last quarter. Midwest Wealth Management Inc. increased its holdings of Electronic Arts shares 8.8% in the first quarter. Midwest Wealth Management Inc. now owns 13,287 shares of the gaming software company valued at $1,681,000 after buying 1,078 additional shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holding in shares of Electronic Arts by 255.1% in the first quarter. EverSource Wealth Advisors LLC now owns 490 shares of the gaming software company valued at $62,000 after buying 352 additional shares in the last quarter. Institutional investors hold 89.28% of the company’s shares.
About Electronic Arts (Get a rating)
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 in various genres, such as sports, racing, first-person shooter, action, role-playing and simulation, mainly under Battlefield, The Sims, Apex Legends, Need for Speed, and Plants vs.
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