Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The upcoming launch of "Star Wars: Battlefront II" on Nov. 17 is emerging as the biggest event for Electronic Arts Inc. (NASDAQ:EA) for the upcoming year.
Coming off a second quarter that saw sales down 19 percent year over year, EA is banking on the strength of its "Star Wars" franchise to generate new growth in the upcoming year.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Jefferies: Reiterates Buy, Ups Price Target To $138
According to Jefferies analyst Timothy O’Shea, if "Star Wars" can encourage users to spend real money on virtual goods, like it has with "FIFA," “the game could drive meaningful upside in F’18 and ’19 EPS,” he said.
Launching just in time for the holidays, EA has stated that "Battlefront 2" could sell 14 million units in the first year, but the swing factor will be the in-game monetization strategy.
The game's "pay to win" element is receiving criticism from beta testers, however, and may force the company to scale back on some of its in-game monetization plans.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Despite a potential scale back, Jefferies remains bullish on EA, citing a multitude of powerful tailwinds, including more mobile, downloads and in-game spending. The firm raised its price target from $135 to $138 and maintains a Buy rating.
KeyBanc: Maintains Overweight Rating, Keeps PT At $134
KeyBanc is also staying bullish on EA, and believes that the company’s short- and medium-term performance will rest on the "Battlefront 2" and driving revenue growth through expansion of live services and mobile.
“We expect that as adoption and comfort around the current cycle of consoles increase and downloading games digitally grows, the pace of digital downloads will accelerate,” said KeyBanc analyst Evan Wingren.
KeyBanc maintains an Overweight rating on the stock, with a $134 price target.
Despite analysts maintaining a bullish stance on Electronic Arts, shares fell 5 percent post-earnings.
At publication, shares of Electronic Arts were down 4.42 percent at $114.31.
Related Link: The Force Is Weak With Electronic Arts As 'Star Wars' Game Delayed_______Image Credit: LucasArt [Public domain], via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.