Raymond James Increases Electronic Arts (NASDAQ:EA) Price Target to $170.00

Electronic Arts (NASDAQ:EA) had its price target raised by Raymond James from $155.00 to $170.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the game software company’s stock.

Several other analysts have also recently commented on EA. Jefferies Financial Group initiated coverage on shares of Electronic Arts in a research note on Thursday, July 11th. They issued a buy rating and a $165.00 price target on the stock. Stifel Nicolaus increased their price target on Electronic Arts from $165.00 to $167.00 and gave the company a buy rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on Electronic Arts from $139.00 to $150.00 and gave the stock a neutral rating in a research note on Wednesday. Bank of America increased their target price on Electronic Arts from $150.00 to $170.00 and gave the company a buy rating in a research report on Wednesday. Finally, Robert W. Baird upped their price target on shares of Electronic Arts from $150.00 to $170.00 and gave the company an outperform rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $160.16.

Electronic Arts Stock Performance

NASDAQ EA opened at $148.83 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.25. Electronic Arts has a twelve month low of $117.47 and a twelve month high of $153.51. The business has a 50-day moving average price of $140.16 and a 200-day moving average price of $135.98. The firm has a market cap of $39.55 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Electronic Arts had a net margin of 15.77% and a return on equity of 16.26%. As a group, equities research analysts predict that Electronic Arts will post 5.76 EPS 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. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, August 28th. Electronic Arts’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $142.42, for a total value of $356,050.00. Following the transaction, the chief executive officer now directly owns 59,247 shares in the company, valued at approximately $8,437,957.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew Wilson sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $142.42, for a total value of $356,050.00. Following the completion of the sale, the chief executive officer now owns 59,247 shares in the company, valued at $8,437,957.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $127.15, for a total value of $127,150.00. Following the completion of the transaction, the executive vice president now directly owns 17,426 shares in the company, valued at approximately $2,215,715.90. The disclosure for this sale can be found here. Insiders have sold 23,239 shares of company stock valued at $3,197,469 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. lifted its position in shares of Electronic Arts by 333.3% during the first quarter. North Star Investment Management Corp. now owns 195 shares of the game software company’s stock valued at $26,000 after buying an additional 150 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in Electronic Arts by 102.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 200 shares of the game software company’s stock valued at $27,000 after acquiring an additional 101 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Electronic Arts in the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Electronic Arts in the second quarter worth $28,000. Finally, Larson Financial Group LLC acquired a new position in shares of Electronic Arts during the fourth quarter worth $30,000. 90.23% of the stock is currently owned by 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.