Wedbush Lowers SEA (NYSE:SE) Price Target to $170.00

SEA (NYSE:SE) had its price objective reduced by Wedbush from $190.00 to $170.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the Internet company based in Singapore’s stock. Wedbush’s target price suggests a potential upside of 39.64% from the stock’s current price.

Several other equities research analysts also recently weighed in on SE. TD Cowen reduced their price objective on shares of SEA from $165.00 to $144.00 and set a “hold” rating for the company in a report on Monday, November 10th. Arete Research cut SEA from a “buy” rating to a “neutral” rating and set a $177.00 target price on the stock. in a report on Wednesday, September 3rd. Morgan Stanley set a $209.00 price target on SEA in a research note on Wednesday, October 22nd. Phillip Securities upgraded SEA from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SEA in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SEA currently has an average rating of “Moderate Buy” and a consensus price target of $192.61.

SEA Stock Performance

SEA stock traded up $1.28 during midday trading on Friday, reaching $121.74. 1,105,282 shares of the stock traded hands, compared to its average volume of 4,578,418. SEA has a fifty-two week low of $99.50 and a fifty-two week high of $199.30. The company has a current ratio of 1.44, a quick ratio of 1.42 and a debt-to-equity ratio of 0.03. The firm has a market cap of $71.72 billion, a price-to-earnings ratio of 53.39 and a beta of 1.58. The firm has a fifty day moving average price of $145.83 and a two-hundred day moving average price of $161.49.

SEA (NYSE:SE) last issued its quarterly earnings data on Wednesday, November 12th. The Internet company based in Singapore reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.52). The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.63 billion. SEA had a return on equity of 15.19% and a net margin of 6.80%.The business’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, equities research analysts forecast that SEA will post 0.74 earnings per share for the current year.

SEA declared that its board has authorized a stock repurchase program on Monday, November 17th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the Internet company based in Singapore to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On SEA

Institutional investors have recently modified their holdings of the stock. Oarsman Capital Inc. bought a new position in shares of SEA during the 3rd quarter valued at $201,000. Armistice Capital LLC increased its position in SEA by 254.8% during the third quarter. Armistice Capital LLC now owns 22,000 shares of the Internet company based in Singapore’s stock worth $3,932,000 after buying an additional 15,800 shares during the last quarter. Williamson Legacy Group LLC bought a new position in SEA during the third quarter valued at about $1,232,000. Fred Alger Management LLC raised its holdings in SEA by 22.1% during the third quarter. Fred Alger Management LLC now owns 2,886,441 shares of the Internet company based in Singapore’s stock valued at $515,894,000 after buying an additional 521,782 shares in the last quarter. Finally, BNP Paribas lifted its position in shares of SEA by 24.0% in the third quarter. BNP Paribas now owns 35,846 shares of the Internet company based in Singapore’s stock worth $6,407,000 after buying an additional 6,939 shares during the last quarter. Institutional investors and hedge funds own 59.53% of the company’s stock.

SEA Company Profile

Sea Ltd. is an internet and mobile platform company, which engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce, and Digital Financial Services. The Digital Entertainment segment offers and develops mobile and PC online games.