The Goldman Sachs Group Forecasts Strong Price Appreciation for Electronic Arts (NASDAQ:EA) Stock

Electronic Arts (NASDAQ:EA) had its target price increased by equities researchers at The Goldman Sachs Group from $135.00 to $155.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the game software company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 1.11% from the company’s current price.

Several other research analysts also recently weighed in on EA. Citigroup dropped their price target on Electronic Arts from $163.00 to $139.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Raymond James cut Electronic Arts from an “outperform” rating to a “market perform” rating in a report on Thursday, January 23rd. Roth Mkm cut their price target on Electronic Arts from $158.00 to $134.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Benchmark increased their target price on Electronic Arts from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen increased their price objective on shares of Electronic Arts from $160.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Electronic Arts has a consensus rating of “Hold” and a consensus price target of $161.83.

Electronic Arts Price Performance

Shares of NASDAQ:EA opened at $153.30 on Thursday. The firm’s 50 day simple moving average is $143.36 and its two-hundred day simple moving average is $144.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $39.95 billion, a P/E ratio of 39.01, a P/E/G ratio of 3.58 and a beta of 0.74. Electronic Arts has a 1-year low of $115.21 and a 1-year high of $168.50.

Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, February 4th. The game software company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($1.07). Electronic Arts had a return on equity of 17.80% and a net margin of 14.28%. Research analysts expect that Electronic Arts will post 4.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Electronic Arts news, insider Laura Miele sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $155.57, for a total value of $388,925.00. Following the completion of the sale, the insider now directly owns 40,189 shares in the company, valued at $6,252,202.73. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vijayanthimala Singh sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $145.00, for a total value of $145,000.00. Following the transaction, the insider now directly owns 26,216 shares in the company, valued at approximately $3,801,320. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock worth $3,118,120 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

Hedge funds have recently modified their holdings of the stock. Putney Financial Group LLC purchased a new stake in Electronic Arts during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Electronic Arts during the first quarter valued at $28,000. Pinnacle Bancorp Inc. increased its position in shares of Electronic Arts by 141.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 200 shares of the game software company’s stock valued at $29,000 after acquiring an additional 117 shares during the period. Bank of Jackson Hole Trust lifted its position in Electronic Arts by 56.4% during the 1st quarter. Bank of Jackson Hole Trust now owns 208 shares of the game software company’s stock worth $30,000 after acquiring an additional 75 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in Electronic Arts during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

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.