Market Overview

Electronic Arts Fails To Impress With Q1 Beat


Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Electronic Arts Inc. (NASDAQ: EA) shares are trading lower by $1.30 at $71.00 in Friday's session. Despite a solid Q1 beat for EPS ($0.15 vs. $0.03 estimates) and revenue ($693 million vs. $649.65 million) and raised guidance, the issue is in the red.

After a lower open ($71.03 vs. Thursday's close of $72.30), it declined to $70.50 before staging a rebound. That low marked the lowest level for the issue since it bottomed on July 9 at $69.68.

The ensuing rebound found resistance in the same area as had in its five previous sessions. From July 24 through July 30, the issue peaked between $72.49 and $72.84. Today's high comes in at that same area at $72.73.

Since making the high, it has retreated back to the $71 level.

Brean's Todd Mitchell sees "continued upside" in EA and reiterated his $78 price target. Wedbush's Michael Pachter maintained his Outperform rating and $84 price target.

Posted-In: Premarekt outlookTechnicals Intraday Update Movers Trading Ideas


Related Articles (EA)

View Comments and Join the Discussion!

Google Pushes Back In EU Privacy Case

Coffee Higher