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

SEA (NYSE:SE) had its target price decreased by Wedbush from $190.00 to $170.00 in a research note released on Friday morning, MarketBeat.com reports. Wedbush currently has an outperform rating on the Internet company based in Singapore’s stock.

Other equities analysts have also recently issued research reports about the company. Barclays lifted their price target on SEA from $214.00 to $226.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Phillip Securities upgraded SEA from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “hold (c)” rating on shares of SEA in a report on Monday, December 8th. Morgan Stanley set a $209.00 price target on SEA in a research note on Wednesday, October 22nd. Finally, 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 research report on Monday, November 10th. One 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’s stock. Based on data from MarketBeat, SEA currently has an average rating of “Moderate Buy” and an average price target of $192.61.

SEA Trading Up 1.2%

Shares of SEA stock opened at $121.90 on Friday. The stock has a market cap of $71.81 billion, a P/E ratio of 53.47 and a beta of 1.58. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.03. SEA has a 12-month low of $99.50 and a 12-month high of $199.30. The business’s 50 day moving average is $144.64 and its 200-day moving average is $161.10.

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

SEA announced that its board has initiated a stock buyback plan on Monday, November 17th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the Internet company based in Singapore to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On SEA

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC grew its stake in shares of SEA by 2,860.0% in the third quarter. Salomon & Ludwin LLC now owns 148 shares of the Internet company based in Singapore’s stock valued at $27,000 after acquiring an additional 143 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in SEA in the 3rd quarter worth about $29,000. ORG Partners LLC boosted its holdings in SEA by 552.0% in the 2nd quarter. ORG Partners LLC now owns 163 shares of the Internet company based in Singapore’s stock valued at $25,000 after purchasing an additional 138 shares during the period. Rothschild Investment LLC boosted its holdings in SEA by 114.0% in the 3rd quarter. Rothschild Investment LLC now owns 199 shares of the Internet company based in Singapore’s stock valued at $36,000 after purchasing an additional 106 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of SEA during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 59.53% of the company’s stock.

SEA Company Profile

Sea Limited (NYSE: SE) is a Singapore-based consumer internet company that operates a trio of interconnected businesses across digital entertainment, e-commerce and digital financial services. Founded in 2009 as Garena and later rebranded as Sea, the company is headquartered in Singapore and listed on the New York Stock Exchange. Sea positions itself as a technology platform focused on enabling online consumers, merchants and developers primarily across Southeast Asia and adjacent markets.

Sea’s digital entertainment arm, Garena, is a game developer and publisher that also organizes esports initiatives and operates online gaming platforms.