Electronic Arts (EA) is Reiterated by Oppenheimer to Outperform, Raises Price Target to $ 94

Electronic Arts (EA) was Reiterated by Oppenheimer to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 94 from a previous price target of $88 . Oppenheimer advised their investors in a research report released on Oct 14, 2016.

Many Wall Street Analysts have commented on Electronic Arts. Electronic Arts was Initiated by Morgan Stanley to “Overweight” on Sep 23, 2016. Company shares were Reiterated by Stifel on Sep 12, 2016 to “Buy”, Firm has raised the Price Target to $ 87 from a previous price target of $83 .Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $87 .

On the company’s financial health, Electronic Arts reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.03. The company had revenue of $682.00 million for the quarter, compared to analysts expectations of $650.42 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Electronic Arts closed down -1.37 points or -1.62% at $83.37 with 23,08,846 shares getting traded on Tuesday. Post opening the session at $84.7, the shares hit an intraday low of $83.15 and an intraday high of $84.8 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 4, 2016, Andrew Wilson (Chief Executive Officer) sold 8,000 shares at $85.61 per share price. According to the SEC, on Oct 4, 2016, Patrick Soderlund (EVP, EA Studios) sold 8,000 shares at $85.47 per share price. On Oct 4, 2016, Joel Linzner (EVP Worldwide Business Affairs) sold 8,000 shares at $85.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Electronic Arts Inc is a game software content and services provider. The Company develops markets publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield Mass Effect Need for Speed Dragon Age The Sims Bejeweled and Plants v. Zombies as well as brands based on licensed intellectual property such as FIFA Madden NFL and Star Wars. The Company is organized around three divisions: EA Studios Maxis and EA Mobile. The EA Studios division develops games and related content and services across a range of game categories including the FIFA Madden NFL Need for Speed Battlefield Mass Effect and Dragon Age. The Maxis division creates games and related content and services that engage player creativity. The EA Mobile division focuses on developing and publishing interactive games for mobile phones and tablets.

Electronic Arts

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