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

Electronic Arts (NASDAQ:EA) had its price target upped by research analysts at Bank of America from $130.00 to $132.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the game software company’s stock. Bank of America‘s price target would indicate a potential upside of 8.87% from the company’s previous close.

EA has been the topic of several other reports. Robert W. Baird cut their price objective on shares of Electronic Arts from $175.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Argus lifted their price target on Electronic Arts from $161.00 to $183.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Raymond James cut Electronic Arts from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Roth Mkm cut their target price on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, StockNews.com raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.48.

Electronic Arts Price Performance

Shares of EA stock opened at $121.25 on Wednesday. The stock has a 50 day moving average price of $145.96 and a 200 day moving average price of $147.66. The firm has a market capitalization of $31.80 billion, a P/E ratio of 31.17, a P/E/G ratio of 2.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.43. Electronic Arts has a 52-week low of $115.21 and a 52-week high of $168.50.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data 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 net margin of 14.12% and a return on equity of 18.56%. As a group, sell-side analysts predict that Electronic Arts will post 5.02 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Andrew Wilson sold 5,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $166.47, for a total value of $832,350.00. Following the sale, the chief executive officer now directly owns 52,615 shares of the company’s stock, valued at $8,758,819.05. The trade was a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm’s 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 transaction, the insider now owns 28,216 shares in the company, valued at $3,443,198.48. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,500 shares of company stock valued at $3,562,510. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Electronic Arts

Several large investors have recently added to or reduced their stakes in EA. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Electronic Arts by 1.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 99,600 shares of the game software company’s stock worth $14,571,000 after buying an additional 1,600 shares during the last quarter. Walter Public Investments Inc. increased its stake in Electronic Arts by 0.6% during the fourth quarter. Walter Public Investments Inc. now owns 115,184 shares of the game software company’s stock worth $16,851,000 after acquiring an additional 676 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in Electronic Arts in the fourth quarter valued at $32,000. Impact Investors Inc acquired a new position in shares of Electronic Arts in the 4th quarter valued at $1,304,000. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Electronic Arts by 8.1% during the 4th quarter. Lake Street Advisors Group LLC now owns 2,211 shares of the game software company’s stock worth $324,000 after purchasing an additional 165 shares during the period. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

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.