Citigroup Downgrades Electronic Arts (NASDAQ:EA) to Neutral

Electronic Arts (NASDAQ:EA – Get Free Report) Analysts at Citigroup lowered their rating from “buy” to “neutral” in a report released Monday, Briefing.com reports. They currently have a price target of $161.00 on the gaming software company’s stock, up from their previous target price of $148.00. Citigroup’s price target would indicate a potential upside of 10.52% from the stock’s previous close.

Several other brokerages have also commented on EA. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Electronic Arts from $153.00 to $150.00 and set a “hold” rating for the company in a report on Thursday, May 9. Oppenheimer reiterated an “outperform” rating and set a $150.00 price target on shares of Electronic Arts in a research report on Friday, June 21. UBS Group lowered their price target on shares of Electronic Arts from $146.00 to $143.00 and set a “neutral” rating for the stock in a report on Wednesday, March 27. Stifel Nicolaus increased their price target on shares of Electronic Arts from $150.00 to $163.00 and gave the company a “buy” rating in a report on Monday, June 24. Finally, Wedbush reaffirmed an “outperform” rating and issued a $162.00 price target on shares of Electronic Arts in a research note on Wednesday, May 8. Nine equities research analysts have rated the stock a “hold,” while eleven have given the stock a “buy” rating. According to data from MarketBeat, Electronic Arts currently has an average rating of “Moderate Buy” and a consensus price target of $149.22.

Read our latest analysis on Electronic Arts

Electronic Arts shares up 0.3%

Shares of NASDAQ:EA opened at $145.68 on Monday. 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 has a 12-month low of $117.47 and a 12-month high of $147.41. The company has a 50-day moving average of $135.28 and a 200-day moving average of $135.04. The company has a market cap of $38.71 billion, a P/E ratio of 31.13, a PEG ratio of 2.34 and a beta of 0.79.

Electronic Arts (NASDAQ:EA – Get Free Report) last released its earnings results on Tuesday, May 7. The gaming software company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.17). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.78 billion. Electronic Arts had a net margin of 16.83% and a return on equity of 18.81%. Analysts are forecasting that Electronic Arts as a group will post 5.66 EPS for the current year.

Buying and selling insider information at Electronic Arts

In other Electronic Arts news, CFO Stuart Canfield sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 11. The shares were sold at an average price of $145.00, for a total transaction value of $435,000.00. Following the completion of the transaction, the CFO now owns 7,553 shares of the company’s stock, valued at $1,095,185. The sale was disclosed in legal documents filed with the SEC, which are available at this link . In related news, CFO Stuart Canfield sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 11. The shares were sold at an average price of $145.00, for a total transaction value of $435,000.00. Following the completion of the transaction, the CFO now owns 7,553 shares of the company’s stock, valued at approximately $1,095,185. The transaction was disclosed in legal documents filed with the SEC, which are available at this hyperlink . Additionally, CEO Andrew Wilson sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 25. The shares were sold at an average price of $140.26, for a total of $350,650.00. Following the transaction, the CEO now owns 61,747 shares of the company’s stock, valued at $8,660,634.22. Disclosure of this sale can be found here. Insiders sold 25,039 shares of the company’s stock valued at $3,372,146 during the last quarter. 0.22% of the stock is currently owned by company insiders.

Hedge funds weigh in on Electronic Arts

Institutional investors recently changed their holdings in the company. FORA Capital LLC increased its holdings in Electronic Arts by 209.7% in the first quarter. FORA Capital LLC now owns 45,985 shares of the gaming software company’s stock worth $6,101,000 after purchasing an additional 31,136 shares during the period. BI Asset Management Fondsmaeglerselskab AS increased its holdings in Electronic Arts by 82.6% in the first quarter. BI Asset Management Fondsmaeglerselskab AS now owns 25,074 shares of the gaming software company’s stock worth $3,327,000 after purchasing an additional 11,343 shares in the last quarter. Duality Advisers LP acquired a new position in Electronic Arts in the first quarter worth approximately $1,711,000. Eaton Financial Holdings Company LLC acquired a new position in Electronic Arts in the 4th quarter worth approximately $1,259,000. Finally, Value Partners Investments Inc. increased its holdings in Electronic Arts by 33.5% in the 4th quarter. Value Partners Investments Inc. now owns 429,536 shares of the gaming software company’s stock worth $53,761,000 after acquiring an additional 107,709 shares during the last quarter. Institutional investors and hedge funds own 90.23% of the company’s stock.

About Electronic Arts

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Electronic Arts Inc. develops, sells, publishes, and distributes games, content, and services for video game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services in various genres, such as sports, racing, first-person shooters, action, role-playing, and simulations, primarily under the Battlefield, The Sims, Apex Legends, Need for Speed ​​brands, and licenses games from others, including the FIFA, Madden NFL, UFC, and Star Wars brands.

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