SEA (NYSE:SE) Shares Gap Up After Analyst Upgrade

Shares of Sea Limited (NYSE:SE) gapped up before the market opened on Monday after Bank of America raised their price target on the stock from $84.00 to $96.00. The stock had previously closed at $85.71, but opened at $87.77. Bank of America currently has a buy rating on the stock. SEA shares last traded at $89.52, with a volume of 1,422,747 shares traded.

SE has been the subject of several other reports. Loop Capital upped their price objective on SEA from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. TD Cowen increased their target price on SEA from $64.00 to $69.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Wedbush reiterated an “outperform” rating and issued a $84.00 target price (up from $76.00) on shares of SEA in a research report on Tuesday, August 13th. Citigroup dropped their target price on SEA from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Finally, Dbs Bank reiterated a “hold” rating and issued a $75.00 target price on shares of SEA in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.92.

Institutional Trading of SEA

A number of institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in SEA during the second quarter valued at $100,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in SEA during the 2nd quarter worth approximately $184,000. Sanctuary Advisors LLC bought a new position in SEA in the second quarter worth approximately $388,000. Maven Securities LTD acquired a new stake in SEA in the second quarter valued at approximately $205,000. Finally, Clearbridge Investments LLC bought a new stake in shares of SEA during the second quarter valued at approximately $99,989,000. Institutional investors own 59.53% of the company’s stock.

SEA Price Performance

The business has a 50-day moving average price of $74.71 and a two-hundred day moving average price of $68.73. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $53.18 billion, a price-to-earnings ratio of 1,858.40 and a beta of 1.51.

SEA (NYSE:SE) last released its quarterly earnings data on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.45). The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. SEA had a negative net margin of 1.36% and a negative return on equity of 2.92%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period last year, the business posted $0.54 earnings per share. As a group, research analysts anticipate that Sea Limited will post 0.64 EPS for the current year.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations.