Wedbush Increases Electronic Arts (NASDAQ:EA) Price Target to $170.00

Electronic Arts (NASDAQ:EA) had its target price raised by research analysts at Wedbush from $162.00 to $170.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the game software company’s stock. Wedbush’s price target points to a potential upside of 12.77% from the company’s current price.

EA has been the topic of a number of other reports. UBS Group upped their target price on Electronic Arts from $143.00 to $155.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com upgraded Electronic Arts from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. Robert W. Baird upped their target price on Electronic Arts from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $154.00 price objective on shares of Electronic Arts in a research report on Tuesday. Finally, The Goldman Sachs Group increased their price objective on Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.53.

Electronic Arts Stock Performance

EA stock traded up $1.63 during midday trading on Wednesday, hitting $150.75. The company’s stock had a trading volume of 1,839,049 shares, compared to its average volume of 2,159,622. The stock’s 50-day moving average price is $139.29 and its 200 day moving average price is $135.71. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. Electronic Arts has a 1 year low of $117.47 and a 1 year high of $153.51. The stock has a market cap of $40.06 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 2.32 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, equities analysts forecast that Electronic Arts will post 5.75 EPS for the current year.

Insider Activity

In other news, CFO Stuart Canfield sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the completion of the transaction, the chief financial officer now owns 7,553 shares in the company, valued at approximately $1,095,185. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Andrew Wilson sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $142.42, for a total transaction of $356,050.00. Following the completion of the transaction, the chief executive officer now owns 59,247 shares of the company’s stock, valued at approximately $8,437,957.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stuart Canfield sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $145.00, for a total value of $435,000.00. Following the transaction, the chief financial officer now directly owns 7,553 shares of the company’s stock, valued at approximately $1,095,185. The disclosure for this sale can be found here. Insiders sold a total of 23,239 shares of company stock worth $3,197,469 in the last quarter. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EA. Raymond James & Associates increased its position in Electronic Arts by 24.1% during the 4th quarter. Raymond James & Associates now owns 77,201 shares of the game software company’s stock valued at $10,562,000 after buying an additional 14,969 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Electronic Arts by 15.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 32,332 shares of the game software company’s stock worth $4,423,000 after purchasing an additional 4,344 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Electronic Arts by 58.5% in the 4th quarter. Blue Trust Inc. now owns 618 shares of the game software company’s stock worth $85,000 after purchasing an additional 228 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Electronic Arts in the 4th quarter worth $227,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Electronic Arts by 81.0% in the 4th quarter. Venturi Wealth Management LLC now owns 228 shares of the game software company’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.

Electronic Arts Company Profile

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.