Electronic Arts’ (EA) “Outperform” Rating Reaffirmed at Wedbush

Electronic Arts (NASDAQ:EA)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report released on Thursday,Benzinga reports. They presently have a $173.00 price target on the game software company’s stock. Wedbush’s price target suggests a potential upside of 49.11% from the company’s previous close.

Several other research firms have also commented on EA. JPMorgan Chase & Co. lowered their price objective on shares of Electronic Arts from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $163.00 price target on shares of Electronic Arts in a research report on Wednesday, October 30th. Argus upped their price objective on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America cut Electronic Arts from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $130.00 in a report on Thursday. Finally, UBS Group increased their price target on Electronic Arts from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Electronic Arts currently has a consensus rating of “Moderate Buy” and an average target price of $159.79.

Electronic Arts Price Performance

NASDAQ:EA traded down $26.33 during trading hours on Thursday, reaching $116.02. The stock had a trading volume of 9,713,348 shares, compared to its average volume of 2,725,020. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $30.43 billion, a PE ratio of 29.82, a PEG ratio of 1.88 and a beta of 0.80. Electronic Arts has a 52 week low of $115.45 and a 52 week high of $168.50. The company has a 50 day moving average price of $154.24 and a two-hundred day moving average price of $149.20.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $158.03, for a total value of $395,075.00. Following the transaction, the insider now directly owns 50,433 shares of the company’s stock, valued at approximately $7,969,926.99. This trade represents a 4.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $150.83, for a total value of $150,830.00. Following the completion of the transaction, the insider now owns 28,190 shares in the company, valued at approximately $4,251,897.70. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,500 shares of company stock valued at $4,351,060. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

Hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. grew its holdings in Electronic Arts by 43.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,390,418 shares of the game software company’s stock valued at $193,727,000 after buying an additional 420,382 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Electronic Arts by 51.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,099,746 shares of the game software company’s stock valued at $160,893,000 after buying an additional 373,730 shares during the period. abrdn plc raised its position in shares of Electronic Arts by 59.2% during the 3rd quarter. abrdn plc now owns 858,840 shares of the game software company’s stock valued at $123,484,000 after buying an additional 319,335 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Electronic Arts by 8,503.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 318,085 shares of the game software company’s stock worth $45,626,000 after acquiring an additional 314,388 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Electronic Arts during the third quarter worth $40,154,000. 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.