Benchmark lowered the firm’s price target on Electronic Arts to $153 from $159 and keeps a Buy rating on the shares. EA met the consensus view in terms of net bookings and exceeded the forecast for profitability in fiscal Q1, though the outlook for Q2 was “a bit more tempered,” the analyst tells investors. EA’s projected net bookings and earnings being lower than consensus in-part reflects “Apex Legends” weakness and marketing investments, including for the “EA Sports FC” release, the analyst notes.
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Read More on EA:
- Electronic Arts price target raised to $133 from $130 at Barclays
- Electronic Arts falls 3% to $131.50 after Q1 report
- Electronic Arts sees Q2 revenue $1.825B-$1.925B, consensus $1.81B
- Electronic Arts sees 2024 revenue $7.3B-$7.7B, consensus $7.61B
- Electronic Arts reports Q1 EPS $1.47, consensus $1.02