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EA

Electronic Arts

$82.57

-1.29 (-1.54%)

05:22
12/10/18
12/10
05:22
12/10/18
05:22

Electronic Arts price target lowered to $105 from $148 at Piper Jaffray

Piper Jaffray analyst Michael Olson believes Electronic Arts' initial fiscal 2020 outlook will be conservative and is adjusting his estimates now, in advance of that initial guidance. The analyst says he would not be surprised if any preliminary framework for fiscal 2020 implies revenue and earnings per share below his newly revised estimates and well below the current consensus estimates of $5.6B and $5.15, respectively. Olson also dropped his price target for the shares to $105 from $148. He points out, however, that his new target still represents greater than 25% upside potential. As such, he keeps an Overweight rating on Electronic Arts.

EA Electronic Arts
$82.57

-1.29 (-1.54%)

12/07/18
OPCO
12/07/18
NO CHANGE
OPCO
Outperform
Video game publishers 'struggling' to keep up with innovation, says Oppenheimer
Oppenheimer analyst Andrew Uerkwitz tells investors in a research note that he believes the video game industry is "still healthy," but that the larger publishers -- primarily Outperform-rated Activision Blizzard (ATVI) and Electronic Arts (EA) -- are struggling to keep up with innovation and are not enjoying the same growth rates. He notes that Activision is expected to see just 4% growth in 2H18, while EA is down 5% y/y, while Take Two (TTWO) is estimated to be up about 69% for the same period due to Red Dead Redemption 2. He says EA has "several shots" on goal with three AAA titles coming in 2019, but says Activision has "a little work to do" on the Blizzard side.
12/04/18
MSCO
12/04/18
NO CHANGE
Target $150
MSCO
Overweight
Take-Two stands to benefit from Steam price cut, says Morgan Stanley
Morgan Stanley analyst Brian Nowak noted that Valve announced last week it was changing the take rate on its Steam PC-game distribution platform, reducing Steam's take rate to 20% from 30% on all sales over $50M per game. For any game that has achieved scale on Steam, this 10% increase to gross revenue will "effectively fall directly to the game's operating profit," said Nowak. He expects the impact to be minimal for Activision Blizzard (ATVI) and Electronic Arts (EA), who distribute most or all of their games through wholly-owned platforms, but said that for Take-Two (TTWO) the impact could be more significant. The lower platform fees could drive as much as 8% upside to his FY20 EPS estimate for Take-Two, noted Nowak, who maintains an Overweight rating and $150 price target on its shares.
10/31/18
10/31/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Electronic Arts (EA) downgraded to Neutral from Overweight at Atlantic Equities with analyst Kunaal Malde saying "Live Services slowed again, contrary to our prior expectations." 2. Qualcomm (QCOM) downgraded to Neutral from Buy at BofA/Merrill with analyst Tal Liani saying Qualcomm is facing licensing disputes with Huawei and Apple (AAPL) with resolution timing uncertain and royalty rates that are likely trend lower over time. 3. Container Store (TCS) downgraded to Underweight from Neutral at JPMorgan with analyst Christopher Horvers saying he expects the 2019 consumer environment to "soften with housing appearing to moderate as well." 4. Clovis (CLVS) downgraded to Neutral from Overweight at JPMorgan with analyst Cory Kasimov saying the company's Q3 report was "clearly surprising and disappointing," as Rubraca sales of $22.8M fell well below consensus of $31.3M and represented a sequential decline versus $23.8M in Q2. 5. Weatherford (WFT) downgraded to Neutral from Buy at Guggenheim with analyst Sasha Sanwal citing the company's Q3 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/31/18
10/31/18
DOWNGRADE
Target $110

Neutral
Atlantic Equities sees limited catalysts for Electronic Arts, downgrades to Neutral
As previously reported, Atlantic Equities analyst Kunaal Malde downgraded Electronic Arts to Neutral from Overweight after the company reported Q2 results and maintained FY19 guidance, but with a weighting more to upfront sales than originally expected, which he said raises concerns that the mix shift to recurring revenue lines could be fading. Live Services slowed again, contrary to our prior expectations, added Malde. Given that the stock is down about 35% from its highs, he thinks there may be limited further downside, but he also sees few positive near-term catalysts, Malde tells investors. He lowered his price target on EA shares to $110 from $140.

TODAY'S FREE FLY STORIES

PAYC

Paycom

$239.80

4.63 (1.97%)

06:39
11/20/19
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06:39
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06:39
Upgrade
Paycom rating change  »

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QCOM

Qualcomm

$87.95

-2.52 (-2.79%)

06:39
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TGT

Target

$110.86

0.27 (0.24%)

06:38
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06:38
11/20/19
06:38
Hot Stocks
Breaking Hot Stocks news story on Target »

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AVY

Avery Dennison

$131.42

0.26 (0.20%)

06:38
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Avery Dennison to acquire Smartrac's RFID Inlay business for EUR225M »

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TGT

Target

$110.86

0.27 (0.24%)

06:37
11/20/19
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Earnings
Breaking Earnings news story on Target »

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  • 20

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ADSK

Autodesk

$164.53

2.08 (1.28%)

06:37
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06:37
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06:37
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Autodesk analyst commentary  »

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  • 26

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QIWI

Qiwi

$20.14

0.38 (1.92%)

06:36
11/20/19
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06:36
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06:36
Earnings
Qiwi raises FY19 adjusted revenue growth view to 15%-19% from 9%-15% »

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  • 20

    Nov

  • 09

    Dec

TGT

Target

$110.86

0.27 (0.24%)

06:35
11/20/19
11/20
06:35
11/20/19
06:35
Earnings
Target sees Q4 adj. EPS $1.54-$1.75, consensus $1.65 

Sees Q4 SSS up 3%-4%.

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  • 20

    Nov

TJX

TJX

$60.66

1.12 (1.88%)

06:34
11/20/19
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06:34
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06:34
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TJX analyst commentary  »

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  • 05

    Dec

T

AT&T

$38.00

-1.61 (-4.06%)

06:34
11/20/19
11/20
06:34
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Recommendations
AT&T analyst commentary  »

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  • 09

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    Dec

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LLY

Eli Lilly

$115.13

1.04 (0.91%)

06:34
11/20/19
11/20
06:34
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06:34
Hot Stocks
Eli Lilly to invest $400M in Indianapolis manufacturing facilities »

Eli Lilly announced plans…

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  • 17

    Dec

  • 30

    Jan

TGT

Target

$110.86

0.27 (0.24%)

06:33
11/20/19
11/20
06:33
11/20/19
06:33
Earnings
Target reports Q3 adj. EPS $1.36, consensus $1.19 »

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  • 20

    Nov

CDXC

ChromaDex

$3.49

0.19 (5.76%)

06:33
11/20/19
11/20
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06:33
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ChromaDex: EC votes in favor on Nicotinamide Riboside Chloride as a novel food »

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QIWI

Qiwi

$20.14

0.38 (1.92%)

06:33
11/20/19
11/20
06:33
11/20/19
06:33
Earnings
Qiwi reports Q3 EPS 29c, one estimate 33c »

Reports Q3 adjusted…

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  • 20

    Nov

  • 09

    Dec

EVRG

Evergy

$64.79

-0.19 (-0.29%)

06:29
11/20/19
11/20
06:29
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06:29
Downgrade
Evergy rating change  »

Evergy downgraded to…

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RES

RPC, Inc.

$3.84

-0.015 (-0.39%)

06:26
11/20/19
11/20
06:26
11/20/19
06:26
Downgrade
RPC, Inc. rating change  »

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QD

Qudian

$5.63

-0.295 (-4.98%)

06:24
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Downgrade
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WE

We Company

$0.00

(0.00%)

, SFTBF

SoftBank

$0.00

(0.00%)

06:22
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Periodicals
WeWork began layoffs on Monday, Business Insider reports »

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WE

We Company

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

SFTBY

SoftBank

$0.00

(0.00%)

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BRY

Berry Petroleum

$8.90

-2.405 (-21.27%)

06:21
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06:21
Downgrade
Berry Petroleum rating change  »

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BBCP

Concrete Pumping

$3.88

0.17 (4.58%)

06:21
11/20/19
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06:21
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Conference/Events
Concrete Pumping management to meet with William Blair »

Luncheon Meeting to be…

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  • 20

    Nov

EVRG

Evergy

$64.79

-0.19 (-0.29%)

06:20
11/20/19
11/20
06:20
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06:20
Downgrade
Evergy rating change  »

Evergy downgraded to…

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M

Macy's

$15.03

-1.85 (-10.96%)

06:20
11/20/19
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Periodicals
Macy's confirms 'targeted data security incident' impacted customers, WSJ says »

Macy's says customer…

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  • 21

    Nov

AL

Air Lease

$45.16

0.435 (0.97%)

06:20
11/20/19
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06:20
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Conference/Events
Air Lease management to meet with Stephens »

Group Luncheon Meeting to…

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  • 20

    Nov

BRY

Berry Petroleum

$8.90

-2.405 (-21.27%)

06:19
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Downgrade
Berry Petroleum rating change  »

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XGN

Exagen

$19.25

-0.04 (-0.21%)

06:19
11/20/19
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06:19
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Conference/Events
Exagen management to meet with William Blair »

Meeting to be held in…

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  • 20

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