Morgan Stanley Reiterates Equal Weight Rating for Electronic Arts (NASDAQ:EA)

Electronic Arts (NASDAQ:EA)‘s stock had its “equal weight” rating reiterated by research analysts at Morgan Stanley in a report issued on Wednesday, Benzinga reports. They presently have a $150.00 price objective on the game software company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 6.58% from the stock’s previous close.

A number of other equities analysts have also recently commented on EA. Bank of America raised their target price on Electronic Arts from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wedbush upped their target price on shares of Electronic Arts from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price target on shares of Electronic Arts from $139.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their target price on Electronic Arts from $150.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group assumed coverage on Electronic Arts in a report on Thursday, July 11th. They set a “buy” rating and a $165.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.94.

Electronic Arts Stock Performance

Shares of Electronic Arts stock opened at $140.74 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 1.45. The business’s 50 day moving average price is $146.36 and its 200 day moving average price is $137.68. The company has a market cap of $37.40 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.97 and a beta of 0.79. Electronic Arts has a one year low of $117.47 and a one year high of $153.51.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, July 30th. The game software company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.21 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.34%. On average, research analysts predict that Electronic Arts will post 5.89 EPS for the current year.

Insider Buying and Selling at Electronic Arts

In related news, insider Vijayanthimala Singh sold 800 shares of Electronic Arts stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.71, for a total value of $111,768.00. Following the sale, the insider now directly owns 38,574 shares in the company, valued at $5,389,173.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated 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 owns 38,574 shares of the company’s stock, valued at $5,389,173.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $144.86, for a total transaction of $144,860.00. Following the transaction, the executive vice president now owns 29,317 shares in the company, valued at $4,246,860.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,570 shares of company stock valued at $4,183,508. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Electronic Arts

Several hedge funds have recently added to or reduced their stakes in EA. Vanguard Group Inc. raised its holdings 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 worth $3,868,620,000 after acquiring an additional 3,727,251 shares during the last quarter. Capital International Investors raised its stake in Electronic Arts by 16.4% in the 1st quarter. Capital International Investors now owns 5,901,257 shares of the game software company’s stock valued at $782,920,000 after purchasing an additional 833,492 shares during the last quarter. Ninety One UK Ltd lifted its holdings in Electronic Arts by 1.3% in the 2nd quarter. Ninety One UK Ltd now owns 4,283,539 shares of the game software company’s stock valued at $596,825,000 after purchasing an additional 53,237 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Electronic Arts by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,185,476 shares of the game software company’s stock valued at $583,162,000 after purchasing an additional 18,376 shares in the last quarter. Finally, FIL Ltd boosted its stake in shares of Electronic Arts by 4.4% during the 4th quarter. FIL Ltd now owns 3,428,193 shares of the game software company’s stock worth $469,011,000 after purchasing an additional 145,466 shares during the last quarter. 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.