Vetr Inc. Upgrades Electronic Arts Inc. (EA) to Strong-Buy

Electronic Arts Inc. (NASDAQ:EA) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, July 4th. The firm currently has a $125.00 price objective on the game software company’s stock. Vetr‘s price objective indicates a potential upside of 5.71% from the stock’s current price.

Other analysts have also recently issued reports about the company. Pacific Crest reissued an “overweight” rating and set a $112.00 price objective on shares of Electronic Arts in a report on Wednesday, April 26th. Zacks Investment Research cut Electronic Arts from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Electronic Arts in a research note on Monday, May 8th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $99.00 price target on shares of Electronic Arts in a research note on Monday, May 1st. Finally, Credit Suisse Group upped their price target on Electronic Arts from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $113.45.

Electronic Arts (NASDAQ EA) traded up 0.55% during midday trading on Tuesday, hitting $118.25. 5,012,269 shares of the stock traded hands. The company’s 50-day moving average is $110.65 and its 200-day moving average is $96.96. The company has a market cap of $36.54 billion, a PE ratio of 31.66 and a beta of 0.70. Electronic Arts has a one year low of $73.74 and a one year high of $120.25.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 31.26%. The company had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. During the same quarter in the previous year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts expect that Electronic Arts will post $4.22 EPS for the current fiscal year.

Electronic Arts declared that its Board of Directors has initiated a share buyback program on Tuesday, May 9th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the game software company to purchase up to 45% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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In other Electronic Arts news, CEO Andrew Wilson sold 108,000 shares of Electronic Arts stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $94.99, for a total value of $10,258,920.00. Following the completion of the sale, the chief executive officer now directly owns 100,000 shares in the company, valued at $9,499,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter R. Moore sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $94.01, for a total value of $940,100.00. Following the completion of the sale, the executive vice president now owns 12,122 shares of the company’s stock, valued at $1,139,589.22. The disclosure for this sale can be found here. Insiders have sold 444,857 shares of company stock valued at $46,912,661 over the last 90 days. 2.55% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Electronic Arts by 8.8% in the first quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after buying an additional 2,394,314 shares during the last quarter. BlackRock Inc. boosted its position in shares of Electronic Arts by 3,420.8% in the first quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after buying an additional 20,174,721 shares during the last quarter. State Street Corp boosted its position in Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after buying an additional 318,704 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Electronic Arts by 24.8% in the first quarter. Ameriprise Financial Inc. now owns 9,443,219 shares of the game software company’s stock valued at $845,359,000 after buying an additional 1,877,351 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Electronic Arts by 15.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock valued at $723,074,000 after buying an additional 1,064,602 shares in the last quarter. 98.26% 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 that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Electronic Arts (NASDAQ:EA)

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