Oppenheimer Increases Electronic Arts (EA) Price Target to $110.00

Electronic Arts (NASDAQ:EA) had its target price upped by Oppenheimer from $88.00 to $110.00 in a research note published on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the game software company’s stock. Oppenheimer also issued estimates for Electronic Arts’ Q3 2020 earnings at $1.86 EPS, Q4 2020 earnings at $1.19 EPS and FY2021 earnings at $3.95 EPS.

Other research analysts have also issued research reports about the stock. Robert W. Baird dropped their price objective on shares of Electronic Arts from $154.00 to $90.00 in a research note on Wednesday, February 6th. Benchmark dropped their price objective on shares of Electronic Arts from $153.00 to $120.00 and set a buy rating on the stock in a research note on Wednesday, February 6th. They noted that the move was a valuation call. SunTrust Banks set a $105.00 price objective on shares of Electronic Arts and gave the company a buy rating in a research note on Tuesday, January 8th. MKM Partners dropped their price objective on shares of Electronic Arts to $112.00 and set a buy rating on the stock in a research note on Wednesday, January 30th. Finally, Wedbush reiterated a buy rating and issued a $111.00 price objective (down previously from $133.00) on shares of Electronic Arts in a research note on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. Electronic Arts currently has a consensus rating of Buy and a consensus price target of $111.32.

Electronic Arts stock traded up $0.56 during trading hours on Wednesday, hitting $93.88. The company had a trading volume of 3,906,864 shares, compared to its average volume of 4,937,673. The firm has a market cap of $27.96 billion, a PE ratio of 23.89, a P/E/G ratio of 1.54 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.99 and a current ratio of 2.82. Electronic Arts has a fifty-two week low of $73.91 and a fifty-two week high of $151.26.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, May 7th. The game software company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.43. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates 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 for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. Equities analysts anticipate that Electronic Arts will post 3.67 EPS for the current fiscal year.

In related news, CEO Andrew Wilson sold 29,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were 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 of the company’s stock, valued at approximately $2,060,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Bruzzo sold 12,000 shares of the company’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $102.11, for a total transaction of $1,225,320.00. Following the sale, the insider now directly owns 41,076 shares of the company’s stock, valued at $4,194,270.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,500 shares of company stock valued at $8,493,590. 2.24% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of EA. Norges Bank bought a new stake in Electronic Arts in the 4th quarter valued at $243,373,000. Oregon Public Employees Retirement Fund boosted its holdings in Electronic Arts by 7,694.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,624,704 shares of the game software company’s stock valued at $33,000 after purchasing an additional 2,591,032 shares during the period. Two Sigma Advisers LP boosted its holdings in Electronic Arts by 13,042.7% in the 4th quarter. Two Sigma Advisers LP now owns 2,476,342 shares of the game software company’s stock valued at $195,408,000 after purchasing an additional 2,457,500 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Electronic Arts by 20.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,650,029 shares of the game software company’s stock valued at $919,303,000 after purchasing an additional 1,952,780 shares during the period. Finally, CI Investments Inc. boosted its holdings in Electronic Arts by 177,205.0% in the 4th quarter. CI Investments Inc. now owns 1,773,050 shares of the game software company’s stock valued at $139,911,000 after purchasing an additional 1,772,050 shares during the period. 92.86% of the stock is 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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