SEA (NYSE:SE) Downgraded by Zacks Investment Research
According to Zacks, “Sea Limited is an internet service provider company. It offers Digital Entertainment, E-Commerce and Digital Financial Services known as Garena, Shopee and AirPay. The company operates primarily in Indonesia, Taiwan, Vietnam, Thailand, Philippines, Malaysia and Singapore. Sea Limited is based in Singapore. “
Several other equities analysts have also recently issued reports on the company. Piper Sandler lifted their price objective on SEA from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. ValuEngine upgraded SEA from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Cowen lifted their price objective on SEA from $67.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. CLSA upgraded SEA from an “underperform” rating to an “outperform” rating and set a $74.00 price objective for the company in a research note on Tuesday, May 19th. Finally, Stifel Nicolaus cut SEA from a “buy” rating to a “hold” rating and lifted their price objective for the company from $55.00 to $62.00 in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.33.
SEA (NYSE:SE) last released its earnings results on Monday, May 18th. The Internet company based in Singapore reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.14). The firm had revenue of $913.90 million during the quarter, compared to analyst estimates of $890.94 million. SEA had a negative net margin of 41.46% and a negative return on equity of 83.74%. The business’s revenue was up 57.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.64) earnings per share. On average, analysts anticipate that SEA will post -2.64 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp bought a new position in SEA during the first quarter valued at about $27,000. First Manhattan Co. bought a new position in SEA during the first quarter valued at about $35,000. NEXT Financial Group Inc bought a new position in SEA during the first quarter valued at about $45,000. Harbor Investment Advisory LLC bought a new position in SEA during the first quarter valued at about $46,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in SEA during the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 68.88% of the company’s stock.
SEA Company Profile
Sea Limited engages in the digital entertainment, e-commerce, and digital financial service businesses in Taiwan, Thailand, Vietnam, Indonesia, and internationally. It provides Garena digital entertainment platform for users to access mobile and PC online games, and eSports operations; and access to other entertainment content, such as live streaming of online gameplay and social features.
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