Oppenheimer Maintains Their Buy Rating on Electronic Arts (EA)


In a report released today, Andrew Uerkwitz from Oppenheimer maintained a Buy rating on Electronic Arts (EA), with a price target of $115. The company’s shares closed yesterday at $82.99, close to its 52-week low of $79.50.

Uerkwitz observed:

“We had the pleasure of sitting down with and senior manager, investor relations, Erin Rheaume. While we didn’t learn anything new, we walked away confident in EA’s content pipeline. Mr. Jorgensen remains confident in Anthem and reminded investors that Dragon Age was announced last week at the Game Awards (another Bioware title in the works). In addition, we can expect two Respawn titles later in 2019. Content is on track. We do note that Mr.”

According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 19.0% and a 55.3% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Axon Enterprise Inc, Himax Technologies, and Turtle Beach Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Electronic Arts with a $126.26 average price target, which is a 52.1% upside from current levels. In a report issued on December 10, Piper Jaffray also maintained a Buy rating on the stock with a $105 price target.

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Based on Electronic Arts’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.29 billion and net profit of $255 million. In comparison, last year the company earned revenue of $956 million and had a GAAP net loss of $22 million.

Based on the recent corporate insider activity of 140 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EA in relation to earlier this year. Last month, Luis Ubinas, a Director at EA bought 307 shares for a total of $28,919.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Electronic Arts, Inc. engages in the provision of digital interactive entertainment. The firm develops and delivers games, content, and online services for Internet-connected consoles, mobile devices, and personal computers. It operates through the North America and International geographical segments.

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