Argus Forecasts Strong Price Appreciation for Electronic Arts (NASDAQ:EA) Stock

Key Points

• Argus has raised its price target for Electronic Arts (NASDAQ:EA) from $180.00 to $210.00, indicating a potential upside of 4.09% based on the current stock price.
• Recent ratings from other analysts show a mixed outlook, with one "Strong Buy," eight "Buy," and twenty "Hold" ratings among the research community, reflecting an average target price of $176.04.
• Insider trading activity includes significant sales, with CEO Andrew Wilson offloading 5,000 shares valued at $863,950, contributing to concerns about insider confidence amidst general stock performance.

Electronic Arts (NASDAQ:EA - Get Free Report) had its price target increased by equities research analysts at Argus from $180.00 to $210.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the game software company's stock. Argus' target price indicates a potential upside of 4.09% from the company's current price.

A number of other research analysts have also recently weighed in on the stock. DA Davidson raised their price objective on shares of Electronic Arts from $150.00 to $160.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. UBS Group set a $210.00 price objective on shares of Electronic Arts and gave the stock a "neutral" rating in a research note on Tuesday. Hsbc Global Res cut shares of Electronic Arts from a "strong-buy" rating to a "hold" rating in a research note on Monday. Jefferies Financial Group cut shares of Electronic Arts from a "buy" rating to a "hold" rating and raised their price objective for the stock from $200.00 to $210.00 in a research note on Tuesday. Finally, Bank of America raised their price objective on shares of Electronic Arts from $166.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twenty have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $176.04.

Electronic Arts Stock Performance

NASDAQ EA traded down $0.30 during trading hours on Tuesday, hitting $201.76. 1,367,846 shares of the stock were exchanged, compared to its average volume of 3,535,770. Electronic Arts has a 12-month low of $115.21 and a 12-month high of $203.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The company has a market cap of $50.48 billion, a price-to-earnings ratio of 50.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75. The stock has a 50-day moving average of $168.65 and a 200 day moving average of $155.12.

Insider Buying and Selling

In other Electronic Arts news, EVP Jacob J. Schatz sold 1,200 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $171.52, for a total value of $205,824.00. Following the completion of the sale, the executive vice president directly owned 26,080 shares of the company's stock, valued at $4,473,241.60. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 5,000 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $172.79, for a total transaction of $863,950.00. Following the sale, the chief executive officer directly owned 47,393 shares of the company's stock, valued at approximately $8,189,036.47. This represents a 9.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,300 shares of company stock valued at $4,519,680. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Electronic Arts

Several large investors have recently bought and sold shares of the stock. Caldwell Trust Co acquired a new position in shares of Electronic Arts in the 2nd quarter valued at $756,000. Osaic Holdings Inc. grew its holdings in Electronic Arts by 18.5% during the 2nd quarter. Osaic Holdings Inc. now owns 20,994 shares of the game software company's stock worth $3,337,000 after acquiring an additional 3,273 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Electronic Arts by 36.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 22,221 shares of the game software company's stock valued at $3,549,000 after purchasing an additional 5,919 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $2,196,000. Finally, Stance Capital LLC bought a new position in shares of Electronic Arts in the 2nd quarter valued at about $1,385,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

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.

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