Bank of America Issues Positive Forecast for Electronic Arts (NASDAQ:EA) Stock Price

Electronic Arts (NASDAQ:EA) had its price objective lifted by Bank of America from $130.00 to $132.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the game software company’s stock.

A number of other brokerages have also issued reports on EA. Oppenheimer reduced their target price on shares of Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. DZ Bank upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and increased their price objective for the company from $135.00 to $177.00 in a report on Thursday, October 31st. Benchmark restated a “buy” rating and issued a $163.00 price objective on shares of Electronic Arts in a report on Wednesday, October 30th. Raymond James lowered shares of Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Electronic Arts from $167.00 to $159.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $155.24.

Electronic Arts Price Performance

Shares of EA stock opened at $132.00 on Wednesday. Electronic Arts has a 1 year low of $115.21 and a 1 year high of $168.50. The firm’s 50 day moving average is $144.69 and its 200-day moving average is $147.43. The firm has a market capitalization of $34.62 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.50 and a beta of 0.79. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 18.56% and a net margin of 14.12%. Sell-side analysts forecast that Electronic Arts will post 5.02 EPS for the current fiscal year.

Insider Transactions at Electronic Arts

In other Electronic Arts news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $166.47, for a total value of $832,350.00. Following the sale, the chief executive officer now directly owns 52,615 shares in the company, valued at approximately $8,758,819.05. The trade was a 8.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $164.45, for a total transaction of $164,450.00. Following the completion of the sale, the insider now owns 30,216 shares in the company, valued at $4,969,021.20. The trade was a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,500 shares of company stock valued at $3,562,510 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB increased its stake in shares of Electronic Arts by 6.3% during the 4th quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock worth $235,224,000 after purchasing an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of Electronic Arts during the 4th quarter worth about $217,000. Huntington National Bank increased its stake in shares of Electronic Arts by 983.4% during the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock worth $36,993,000 after purchasing an additional 234,098 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of Electronic Arts during the 4th quarter worth about $13,845,000. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of Electronic Arts by 20.8% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock worth $9,205,000 after purchasing an additional 11,058 shares during the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

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.