Bank of America Forecasts Strong Price Appreciation for Electronic Arts (NASDAQ:EA) Stock

Electronic Arts (NASDAQ:EA) had its price target increased by equities research analysts at Bank of America from $130.00 to $132.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the game software company’s stock.

A number of other research analysts have also weighed in on EA. JPMorgan Chase & Co. reduced their price target on Electronic Arts from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $173.00 price target on shares of Electronic Arts in a research note on Thursday, January 23rd. Oppenheimer reduced their price target on Electronic Arts from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Benchmark reissued a “buy” rating and set a $163.00 price target on shares of Electronic Arts in a research note on Wednesday, October 30th. Finally, UBS Group increased their price target on Electronic Arts from $155.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $155.24.

Electronic Arts Trading Up 1.2 %

EA opened at $132.00 on Wednesday. Electronic Arts has a 12 month low of $115.21 and a 12 month high of $168.50. The stock has a market capitalization of $34.62 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. The business has a fifty day moving average price of $144.69 and a 200 day moving average price of $147.43.

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

Insider Activity

In related news, insider Vijayanthimala Singh sold 1,000 shares of Electronic Arts stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.03, for a total value of $122,030.00. Following the completion of the sale, the insider now owns 28,216 shares of the company’s stock, valued at approximately $3,443,198.48. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jacob J. Schatz sold 1,500 shares of Electronic Arts stock in a transaction on Friday, November 15th. The shares were sold at an average price of $163.30, for a total transaction of $244,950.00. Following the completion of the sale, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at approximately $3,814,688. The trade was a 6.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,500 shares of company stock worth $3,562,510 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its stake in Electronic Arts by 31.8% in the third quarter. Larson Financial Group LLC now owns 290 shares of the game software company’s stock valued at $42,000 after acquiring an additional 70 shares during the period. Claro Advisors LLC grew its stake in Electronic Arts by 3.4% during the fourth quarter. Claro Advisors LLC now owns 2,285 shares of the game software company’s stock worth $334,000 after buying an additional 75 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in Electronic Arts by 5.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,572 shares of the game software company’s stock worth $225,000 after buying an additional 76 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Electronic Arts by 11.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the game software company’s stock worth $119,000 after buying an additional 81 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in Electronic Arts by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 3,761 shares of the game software company’s stock worth $550,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

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.