Wall Street Is Growing Bullish on Electronic Arts Stock. Is It Time to Buy?
Top video game stocks delivered stellar returns to investors over the last decade, but Electronic Arts (NASDAQ: EA) and others ran into a speed bump last year. The reopening of the economy, rising inflation, and weak consumer spending trends caused Electronic Arts to report a 2% decline in net bookings (a non-GAAP measure of revenue) for fiscal 2023 ending in March.
Likewise, the stock went nowhere for two years, but that's also why it might be time to consider buying shares. EA reported strong results in its most recent quarter, and Wall Street is taking notice.
Analysts at Baird were particularly optimistic, citing strong performance from EA's top games and opportunities to carry that momentum into upcoming releases.
Source Fool.com
