Electronic Arts (EA – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Doug Creutz from TD Cowen reiterated a Buy rating on the stock and has a $160.00 price target.
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Doug Creutz has given his Buy rating due to a combination of factors, including Electronic Arts’ efforts to address gameplay dissatisfaction and improve engagement in their Global Football franchise. The company successfully reengaged over two million Ultimate Team players following a January update, signaling a positive shift in user trends. Despite a decline in net bookings, management maintained its revised fiscal year guidance, reflecting confidence in future performance.
Additional factors contributing to the Buy rating include Electronic Arts’ strategic financial moves, such as the announced $1 billion accelerated stock repurchase plan. This initiative, along with anticipated launches of popular titles like Battlefield and Skate, underlines the company’s commitment to driving shareholder value and returning to top-line growth in the upcoming fiscal year.
According to TipRanks, Creutz is a 5-star analyst with an average return of 16.7% and a 64.71% success rate. Creutz covers the Communication Services sector, focusing on stocks such as Take-Two, Roblox, and Electronic Arts.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $140.00 price target.