Electronic Arts (EA) Given “Buy” Rating at Benchmark

Electronic Arts (NASDAQ:EA)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research note issued to investors on Wednesday, May 8th, MarketBeat reports. They presently have a $129.00 price target on the game software company’s stock, up from their previous price target of $120.00. Benchmark’s target price would suggest a potential upside of 38.59% from the company’s previous close.

EA has been the subject of several other research reports. BidaskClub cut shares of Electronic Arts from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Credit Suisse Group raised their price objective on shares of Electronic Arts from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. SunTrust Banks set a $107.00 price objective on shares of Electronic Arts and gave the company a “buy” rating in a research note on Monday, April 8th. UBS Group raised their price objective on shares of Electronic Arts from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, MKM Partners reduced their price objective on shares of Electronic Arts to $112.00 and set a “buy” rating for the company in a research note on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company. Electronic Arts has an average rating of “Buy” and an average target price of $111.32.

Shares of NASDAQ:EA opened at $93.08 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 2.99 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $27.07 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.49 and a beta of 1.12. Electronic Arts has a 52 week low of $73.91 and a 52 week high of $151.26.

Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, May 7th. The game software company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.43. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.20 billion. Electronic Arts had a net margin of 20.59% and a return on equity of 22.62%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. On average, research analysts forecast that Electronic Arts will post 3.76 earnings per share for the current year.

In related news, EVP Joel Linzner sold 1,859 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $92.17, for a total value of $171,344.03. Following the sale, the executive vice president now directly owns 22,254 shares of the company’s stock, valued at $2,051,151.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Wilson sold 29,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $103.00, for a total transaction of $2,987,000.00. Following the completion of the sale, the chief executive officer now directly owns 20,000 shares in the company, valued at $2,060,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,794 shares of company stock valued at $6,928,044. Insiders own 2.24% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of Electronic Arts by 705.2% during the first quarter. Wellington Management Group LLP now owns 4,033,498 shares of the game software company’s stock worth $409,926,000 after purchasing an additional 3,532,571 shares in the last quarter. Norges Bank acquired a new position in shares of Electronic Arts during the fourth quarter worth $243,373,000. Oregon Public Employees Retirement Fund lifted its position in shares of Electronic Arts by 7,694.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,624,704 shares of the game software company’s stock worth $33,000 after purchasing an additional 2,591,032 shares in the last quarter. SRS Investment Management LLC acquired a new position in shares of Electronic Arts during the first quarter worth $258,911,000. Finally, Two Sigma Advisers LP lifted its position in shares of Electronic Arts by 13,042.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,476,342 shares of the game software company’s stock worth $195,408,000 after purchasing an additional 2,457,500 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other 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. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.

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Analyst Recommendations for Electronic Arts (NASDAQ:EA)

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