Oppenheimer Has Lowered Expectations for Electronic Arts (NASDAQ:EA) Stock Price

Electronic Arts (NASDAQ:EA) had its price objective decreased by equities research analysts at Oppenheimer from $170.00 to $165.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the game software company’s stock. Oppenheimer’s price target suggests a potential upside of 15.91% from the stock’s current price.

Several other research firms have also recently weighed in on EA. Argus increased their price target on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of Electronic Arts in a report on Friday, October 25th. Finally, BNP Paribas upgraded Electronic Arts to a “strong-buy” rating in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.68.

Electronic Arts Stock Performance

EA stock opened at $142.35 on Tuesday. The stock has a market capitalization of $37.33 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. Electronic Arts has a 12-month low of $124.92 and a 12-month high of $168.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $154.24 and its 200 day simple moving average is $149.20.

Insider Transactions at Electronic Arts

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $143.45, for a total transaction of $215,175.00. Following the transaction, the executive vice president now directly owns 23,386 shares in the company, valued at $3,354,721.70. This represents a 6.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $142.68, for a total transaction of $713,400.00. Following the transaction, the chief executive officer now owns 42,615 shares in the company, valued at approximately $6,080,308.20. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,500 shares of company stock worth $4,351,060. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. lifted its position in shares of Electronic Arts by 43.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock valued at $193,727,000 after buying an additional 420,382 shares during the last quarter. abrdn plc lifted its position in shares of Electronic Arts by 59.2% during the third quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after buying an additional 319,335 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Electronic Arts by 8,503.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock valued at $45,626,000 after buying an additional 314,388 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Electronic Arts during the third quarter valued at about $40,154,000. Finally, Huntington National Bank lifted its position in shares of Electronic Arts by 983.4% during the third quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after buying an additional 234,098 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors.

About Electronic Arts

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.