Electronic Arts (EA) PT Raised to $181 at Benchmark

May 12, 2021 8:45 AM EDT
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Price: $139.91 --0%

Rating Summary:
    30 Buy, 13 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 21 | New: 43
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Benchmark analyst Mike Hickey raised the price target on Electronic Arts (NASDAQ: EA) to $181.00 while maintaining a Buy rating.

The analyst commented, "EA delivered a significant F4Q21 beat and initiated strong F1Q22 and FY22 financial guidance. Live services ex-mobile was key determinant of financial upside in the quarter, or up 39% in the quarter and represented an impressive 62% of total FY21 revenue. Live service offers a player social network with both a predictable and strong enabler of elevated retention, engagement, and monetization. EA guided FY22 18% revenue growth, exceeding consensus, of which we approximate organic growth was high single digit. Key growth considerations include EA Sports, Battlefield (+mobile) and Apex Legends (+mobile). We anticipate additional upside from potential cost synergies from Glu Mobile, Codemasters, and Metalhead Software that have not been included into FY22 profitability guidance."

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