Investment firm Cowen has warned video company Electronic Arts (EA) will likely disappoint earnings and revenue guidance owing to problems related to its Star Wars game.
New York-based Cowen has lowered its price target and earnings forecasts for EA, citing poor sales for Star Wars.
“We are lowering our FY18 estimates to below management's guidance as we believe that Star Wars Battlefront 2's performance (lower units + the indefinite delay of MTX) has been disappointing enough to more than offset any strength elsewhere in the model,” said Cowen analyst Doug Creutz in an update on Thursday.
On November 16, EA revealed it was temporarily turning off all in-game purchases for the game owing to negative sentiment from gamers.
Cowen reduced its EA fiscal 2018 earnings per share estimate to $4.08 from $4.24.
EA has previously guided $4.20 per share.
EA shares lost 0.44% in Thursday´s trading session. The stock has gained around 35% over the past year.