Electronic Arts (NASDAQ:EA) had its target price improved by Brean Capital from $75.00 to $78.00 in a report issued on Tuesday, Marketbeat reviews. The Street’s revenue expectation is at $652.89 million, which implies a 15.75% year-over-year (YoY) decline, and a 27.13% sequential decline.
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Electronic Arts (NASDAQ:EA) last declared its quarterly earnings data on Tuesday, May 5th. Furthermore, analysts also expect other popular titles such as Need For Speed, FIFA, Mass Effect, and Battle field to yield positive results.
On that basis, which EA and analysts prefer to use as a measure of the company’s operating performance, revenue fell 11% to $693 million for the latest quarter, but still topped the company’s guidance for $640 million. The deal was disclosed in a filing with the Securities & Trade Commission, which may be obtained through this link.
Bloomberg reported that out of 24 analysts who are covering the stock, 15 have proposed A Buy, while eight gave a Hold, and only one has assigned Sell rating. During the same quarter in the previous year, the company posted $0.48 EPS. The stock was sold at an average price of $67.20, for a total value of $262,684.80.
In other information, EVP Gabrielle B. Bank of America boosted their price objective on shares of Electronic Arts from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Saturday, July 18th. MKM Partners now has a neutral rating on the game software company’s stock. A total of 1.15 million shares of the company’s stock traded hands. Mizuho initiated coverage on shares of Electronic Arts in a report on Friday, June 26th. Electronic Arts presently has a consensus rating of Buy and a consensus target price of $71.64. The disclosure for this sale can be found here. Benchmark Co. reiterated a buy rating on shares of Electronic Arts in a report on Tuesday. The firm that sees the most upside has their target set at $84.
However, EA also provides adjusted earnings and revenue figures in which such sales are spread out over the estimated life of the games it sells. The Business markets publishes, develops and distributes game applications content for buyers of electronic equipment and numerous gaming machines. Additionally, it supplies game software-related services. The Company is organized around three divisions: EA Studios, Maxis and EA Mobile. 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 Federation Internationale de Football Association, Madden NFL and Star Wars.
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“We have players engaging for longer periods in our live services, ongoing strength across our digital business and growing anticipation for our upcoming titles”, said CEO Andrew Wilson in a statement. The EA Cell office targets publishing and creating interactive games for cellular telephones and tablet computers.
