Electronic Arts (NASDAQ:EA) Stock Rating Reaffirmed by Morgan Stanley

Electronic Arts (NASDAQ:EA)‘s stock had its “equal weight” rating reissued by research analysts at Morgan Stanley in a report issued on Wednesday, Benzinga reports. They currently have a $150.00 target price on the game software company’s stock. Morgan Stanley’s price target indicates a potential upside of 6.13% from the stock’s previous close.

Several other research analysts have also recently weighed in on EA. Robert W. Baird boosted their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on shares of Electronic Arts from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen boosted their target price on shares of Electronic Arts from $163.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a research report on Thursday, July 11th. They set a “buy” rating and a $165.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Electronic Arts from $148.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Electronic Arts presently has an average rating of “Moderate Buy” and a consensus target price of $161.83.

Electronic Arts Stock Down 0.9 %

Electronic Arts stock traded down $1.25 during trading hours on Wednesday, hitting $141.34. The stock had a trading volume of 2,228,846 shares, compared to its average volume of 2,098,423. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $37.56 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. Electronic Arts has a 12-month low of $117.47 and a 12-month high of $153.51. The stock’s 50-day moving average price is $146.40 and its 200-day moving average price is $137.65.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, July 30th. The game software company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Equities research analysts anticipate that Electronic Arts will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.71, for a total transaction of $111,768.00. Following the completion of the transaction, the insider now owns 38,574 shares in the company, valued at $5,389,173.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Stuart Canfield sold 3,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at $1,095,185. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.71, for a total transaction of $111,768.00. Following the sale, the insider now directly owns 38,574 shares in the company, valued at approximately $5,389,173.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,570 shares of company stock worth $4,183,508. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Electronic Arts

A number of hedge funds have recently bought and sold shares of EA. Vanguard Group Inc. raised its stake in shares of Electronic Arts by 14.7% in the first quarter. Vanguard Group Inc. now owns 29,159,718 shares of the game software company’s stock valued at $3,868,620,000 after acquiring an additional 3,727,251 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Electronic Arts by 496.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,511,250 shares of the game software company’s stock worth $333,169,000 after buying an additional 2,090,504 shares during the period. Norges Bank purchased a new position in Electronic Arts in the 4th quarter worth about $281,054,000. Swedbank AB bought a new position in Electronic Arts during the 1st quarter worth about $201,935,000. Finally, Jericho Capital Asset Management L.P. bought a new position in Electronic Arts during the 1st quarter worth about $189,055,000. Hedge funds and other 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.