KeyBanc Reaffirms Their Buy Rating on Electronic Arts

By Jason Carr

KeyBanc analyst Evan Wingren reiterated a Buy rating on Electronic Arts (NASDAQ: EA) yesterday and set a price target of $134. The company’s shares closed yesterday at $116.93, close to its 52-week high of $120.45.

According to TipRanks.com, Wingren is a 4-star analyst with an average return of 12.1% and a 65.0% success rate. Wingren covers the Services sector, focusing on stocks such as MSG Networks Inc, World Wrestling, and Comcast.

Currently, the analyst consensus on Electronic Arts is Strong Buy and the average price target is $124.33, representing a 6.3% upside.

In a report issued on August 22, Piper Jaffray also maintained a Buy rating on the stock with a $128 price target.

Based on Electronic Arts’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.43 billion and quarterly net profit of $644 million. In comparison, last year the company earned revenue of $1.27 billion and had a net profit of $440 million.

Based on the recent corporate insider activity of 142 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Jay Hoag, a Director at EA bought 200 shares for a total of $23,384.

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. is a digital interactive entertainment company. The company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. Its product brands include The Sims, Madden NFL, EA SPORTS FIFA, Battlefield, Need for Speed, Dragon Age and Plants vs.