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

Key Points

• DA Davidson has raised its price target for Electronic Arts (NASDAQ:EA) from $150.00 to $160.00, indicating a potential downside of 9.15% from the previous close while maintaining a "neutral" rating.
• The consensus rating among analysts for Electronic Arts is a "Moderate Buy" with an average price target of $167.12, influenced by multiple upgrades from other firms including Wells Fargo and Oppenheimer.
• Shares of Electronic Arts increased by 5.1% in recent trading, reaching $176.11, with over 6 million shares exchanged, indicating strong investor interest.

Electronic Arts (NASDAQ:EA - Get Free Report) had its price target upped by DA Davidson from $150.00 to $160.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the game software company's stock. DA Davidson's price objective suggests a potential downside of 9.15% from the company's previous close.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company set a $168.00 price objective on Electronic Arts and gave the company an "equal weight" rating in a report on Monday, July 28th. Oppenheimer increased their price objective on Electronic Arts from $170.00 to $185.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Hsbc Global Res raised Electronic Arts from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on Electronic Arts from $135.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group increased their price target on Electronic Arts from $135.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Electronic Arts has a consensus rating of "Moderate Buy" and an average price target of $167.12.

Electronic Arts Stock Up 5.1%

Shares of EA stock traded up $8.47 during trading hours on Monday, reaching $176.11. 6,124,643 shares of the stock were exchanged, compared to its average volume of 3,525,677. The firm has a market capitalization of $44.06 billion, a P/E ratio of 44.14, a P/E/G ratio of 2.16 and a beta of 0.72. Electronic Arts has a 12-month low of $115.21 and a 12-month high of $176.62. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84. The business's fifty day moving average is $153.17 and its two-hundred day moving average is $144.14.

Insider Buying and Selling at Electronic Arts

In related news, insider Laura Miele sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.49, for a total value of $388,725.00. Following the sale, the insider directly owned 58,092 shares in the company, valued at $9,032,725.08. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vijayanthimala Singh sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $159.53, for a total value of $159,530.00. Following the completion of the sale, the insider owned 37,131 shares in the company, valued at approximately $5,923,508.43. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,729 shares of company stock worth $4,677,124. Insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On Electronic Arts

Hedge funds have recently modified their holdings of the stock. Nomura Holdings Inc. boosted its position in Electronic Arts by 11.7% during the fourth quarter. Nomura Holdings Inc. now owns 31,208 shares of the game software company's stock valued at $4,566,000 after purchasing an additional 3,259 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Electronic Arts by 2.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 653,581 shares of the game software company's stock valued at $94,456,000 after acquiring an additional 13,461 shares during the period. CCM Investment Group LLC bought a new position in Electronic Arts during the first quarter valued at about $1,625,000. GAMMA Investing LLC grew its stake in shares of Electronic Arts by 11,587.9% in the 1st quarter. GAMMA Investing LLC now owns 669,367 shares of the game software company's stock valued at $96,737,000 after purchasing an additional 663,640 shares during the period. Finally, Arlington Partners LLC grew its stake in shares of Electronic Arts by 23.3% in the 1st quarter. Arlington Partners LLC now owns 34,536 shares of the game software company's stock valued at $4,991,000 after purchasing an additional 6,532 shares during the period. 90.23% of the stock is currently owned by institutional investors and hedge funds.

About Electronic Arts

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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