Bank of America Increases Electronic Arts (NASDAQ:EA) Price Target to $170.00

Electronic Arts (NASDAQ:EA) had its price target lifted by Bank of America from $150.00 to $170.00 in a research note published on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the game software company’s stock.

A number of other brokerages have also issued reports on EA. Robert W. Baird lifted their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the stock an outperform rating in a research note on Wednesday. StockNews.com raised shares of Electronic Arts from a hold rating to a buy rating in a research report on Wednesday, June 26th. Benchmark reaffirmed a buy rating and set a $153.00 price target on shares of Electronic Arts in a research report on Thursday, July 18th. The Goldman Sachs Group boosted their price objective on Electronic Arts from $139.00 to $150.00 and gave the company a neutral rating in a report on Wednesday. Finally, UBS Group increased their target price on Electronic Arts from $143.00 to $155.00 and gave the stock a neutral rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts has a consensus rating of Moderate Buy and a consensus price target of $160.16.

Electronic Arts Price Performance

Shares of EA stock opened at $148.83 on Wednesday. The firm has a fifty day simple moving average of $140.16 and a 200-day simple moving average of $135.98. The company has a market capitalization of $39.55 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. Electronic Arts has a twelve month low of $117.47 and a twelve month high of $153.51. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Electronic Arts had a net margin of 15.77% and a return on equity of 16.26%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Equities research analysts anticipate that Electronic Arts will post 5.76 earnings per share for the current fiscal year.

Electronic Arts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be given a $0.19 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.51%. Electronic Arts’s dividend payout ratio is presently 16.24%.

Insider Buying and Selling at Electronic Arts

In other news, CFO Stuart Canfield sold 3,000 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $145.00, for a total value of $435,000.00. Following the sale, the chief financial officer now owns 7,553 shares of the company’s stock, valued at approximately $1,095,185. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total value of $127,150.00. Following the transaction, the executive vice president now owns 17,426 shares of the company’s stock, valued at approximately $2,215,715.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stuart Canfield sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 7,553 shares of the company’s stock, valued at $1,095,185. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,239 shares of company stock valued at $3,197,469. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Electronic Arts

Large investors have recently made changes to their positions in the company. First Business Financial Services Inc. boosted its stake in shares of Electronic Arts by 4.3% during the 2nd quarter. First Business Financial Services Inc. now owns 14,066 shares of the game software company’s stock valued at $1,960,000 after buying an additional 576 shares during the period. National Bank of Canada FI boosted its position in Electronic Arts by 214.8% during the second quarter. National Bank of Canada FI now owns 533,548 shares of the game software company’s stock worth $73,264,000 after purchasing an additional 364,044 shares during the period. Hohimer Wealth Management LLC grew its holdings in Electronic Arts by 375.1% during the second quarter. Hohimer Wealth Management LLC now owns 31,204 shares of the game software company’s stock valued at $4,348,000 after purchasing an additional 24,636 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in shares of Electronic Arts in the second quarter valued at approximately $213,000. Finally, Simon Quick Advisors LLC lifted its stake in shares of Electronic Arts by 8.3% in the second quarter. Simon Quick Advisors LLC now owns 3,382 shares of the game software company’s stock worth $471,000 after buying an additional 259 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.