Citigroup Issues Pessimistic Forecast for Electronic Arts (NASDAQ:EA) Stock Price

Electronic Arts (NASDAQ:EA) had its price target reduced by Citigroup from $163.00 to $139.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the game software company’s stock. Citigroup’s price target would suggest a potential upside of 6.54% from the company’s current price.

EA has been the topic of several other reports. StockNews.com raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Roth Mkm dropped their price target on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Robert W. Baird dropped their price target on Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Raymond James lowered Electronic Arts from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets lowered Electronic Arts from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $160.00 to $145.00 in a research report on Thursday, January 23rd. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Electronic Arts has an average rating of “Hold” and an average target price of $155.24.

Electronic Arts Stock Up 7.6 %

NASDAQ EA opened at $130.47 on Tuesday. The stock has a market cap of $34.22 billion, a PE ratio of 33.54, a P/E/G ratio of 2.50 and a beta of 0.79. Electronic Arts has a fifty-two week low of $115.21 and a fifty-two week high of $168.50. The business has a 50 day moving average price of $145.31 and a two-hundred day moving average price of $147.54. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($1.07). Electronic Arts had a return on equity of 18.56% and a net margin of 14.12%. As a group, sell-side analysts predict that Electronic Arts will post 5.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Vijayanthimala Singh sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $164.45, for a total transaction of $164,450.00. Following the completion of the sale, the insider now directly owns 30,216 shares of the company’s stock, valued at $4,969,021.20. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jacob J. Schatz sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $163.30, for a total value of $244,950.00. Following the sale, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at $3,814,688. This trade represents a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,500 shares of company stock valued at $3,562,510. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EA. Swedbank AB grew its holdings in Electronic Arts by 6.3% in the 4th quarter. Swedbank AB now owns 1,607,817 shares of the game software company’s stock valued at $235,224,000 after buying an additional 95,190 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Electronic Arts in the 4th quarter valued at approximately $217,000. Huntington National Bank grew its holdings in Electronic Arts by 983.4% in the 3rd quarter. Huntington National Bank now owns 257,902 shares of the game software company’s stock valued at $36,993,000 after buying an additional 234,098 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in Electronic Arts in the 4th quarter valued at approximately $13,845,000. Finally, Dai ichi Life Insurance Company Ltd grew its holdings in Electronic Arts by 20.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 64,170 shares of the game software company’s stock valued at $9,205,000 after buying an additional 11,058 shares during the last quarter. Institutional investors and hedge funds 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.