UBS has reiterated a Neutral rating on Electronic Arts with a $210.00 price target after the publisher reported fiscal third-quarter results that surpassed market expectations. The company’s shares were reported trading at $200.26, roughly 1% below its 52-week high of $204.88, per InvestingPro data.
The quarterly results showed bookings up 38% year-over-year, ahead of the Street consensus of 31%. Adjusted Operating Income expanded by 67% versus analyst expectations of 65%. These outcomes coincided with a wave of upward earnings revisions, with 12 analysts raising forecasts for the upcoming period, and a 66.9% price return for the stock over the past year.
UBS highlighted that Battlefield 6 established new franchise engagement records during the quarter. The firm linked that engagement to stronger monetization in the company’s live services business. UBS also pointed to other contributors to the quarter’s performance, including the comping of FC challenges in December 2024, the timing of ultimate edition content, and double-digit growth at Apex.
UBS analyst Christopher Schoell noted that Electronic Arts is not providing formal guidance while a pending transaction to take the company private remains unresolved, and UBS models continued but moderating growth for the fiscal fourth quarter.
Looking further ahead, UBS’s outlook for fiscal 2026 incorporates expected ongoing benefits from Battlefield and a return to growth at Apex. The firm projects 11% bookings growth and 21% Operating Income growth for FY2026, and sees those trends as potential upside relative to prior guidance.
From a market-value perspective, InvestingPro data places Electronic Arts with a market capitalization of $50.15 billion, and analyst price targets across the coverage universe range from $160 to $250. InvestingPro’s Fair Value assessment indicates that EA appears fully valued at current levels. Subscribers can access EA’s Pro Research Report for more detailed analysis as part of that research service.
Additional analyst commentary and company developments offered a more mixed picture. Raymond James reported a slowdown in certain data trends in November, notably for Battlefield RedSec. That title has transitioned from its initial launch into a live services cadence and, according to Raymond James, displayed reduced momentum after launch—described as a good start but not a blockbuster one. In response to those trends, Raymond James lowered its outlook for EA stock.
In product planning news, Electronic Arts announced it will deliver the 2026 Formula One World Championship season as a paid expansion for its F1 25 game. The company’s release indicates the expansion will incorporate significant changes to the sport—new cars, regulations, teams and drivers—consistent with details in EA’s press release. UBS and other observers interpret this as an example of EA prioritizing expansions to existing franchises rather than introducing entirely new game IPs.
Collectively, the quarter’s results and updates underscore the company’s current strategy of leveraging franchise engagement and live services to drive monetization, while the absence of formal guidance tied to a pending transaction leaves near-term visibility limited. Investors and market participants watching the gaming sector will weigh the reported strength in franchises like Battlefield and Apex against the valuation assessment and noted slowdown in certain title-level data trends.