SEA (NYSE:SE) Price Target Cut to $149.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut SEA’s price target from $173 to $149 while maintaining an “overweight” rating; the new target implies roughly 98% upside from the reported $75.15 share price.
• Analyst sentiment remains broadly positive, with SEA holding a consensus “Moderate Buy” rating and an average price target of $140.91, despite differing targets and ratings from other firms.
• SEA’s latest quarter showed strong 48.3% year-over-year revenue growth to $7.79 billion, but EPS of $0.70 missed expectations; insiders have also sold more than $250 million of shares over the past 90 days.

SEA (NYSE:SE - Get Free Report) had its target price reduced by analysts at JPMorgan Chase & Co. from $173.00 to $149.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the Internet company based in Singapore's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 98.28% from the company's current price.

Several other analysts have also weighed in on the stock. Benchmark boosted their target price on shares of SEA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Morgan Stanley restated an "overweight" rating and set a $153.00 price objective on shares of SEA in a research note on Thursday, August 13th. Wall Street Zen upgraded SEA from a "hold" rating to a "buy" rating in a research report on Saturday. New Street Research lowered shares of SEA from a "buy" rating to a "neutral" rating and set a $70.00 target price for the company. in a research note on Monday. Finally, Weiss Ratings upgraded SEA from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, SEA currently has a consensus rating of "Moderate Buy" and an average price target of $140.91.

SEA Price Performance

Shares of SE traded up $0.42 during mid-day trading on Wednesday, hitting $75.15. The company's stock had a trading volume of 4,990,133 shares, compared to its average volume of 4,972,529. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.07. SEA has a 1-year low of $71.53 and a 1-year high of $159.80. The firm has a market capitalization of $45.92 billion, a P/E ratio of 28.95, a P/E/G ratio of 0.76 and a beta of 1.54. The firm has a 50-day simple moving average of $101.61 and a 200 day simple moving average of $99.88.

SEA (NYSE:SE - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The Internet company based in Singapore reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.16). The firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.12 billion. SEA had a return on equity of 13.54% and a net margin of 5.98%. The company's quarterly revenue was up 48.3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. Analysts predict that SEA will post 2.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Tianyu Hou sold 10,000 shares of the firm's stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $89.03, for a total transaction of $890,300.00. Following the completion of the transaction, the chief financial officer directly owned 35,000 shares of the company's stock, valued at approximately $3,116,050. This trade represents a 22.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yanjun Wang sold 800 shares of the company's stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $73.77, for a total transaction of $59,016.00. Following the completion of the sale, the insider directly owned 72,780 shares in the company, valued at approximately $5,368,980.60. The trade was a 1.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,058,086 shares of company stock worth $250,702,052. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SEA

Several large investors have recently modified their holdings of SE. Grove Bank & Trust lifted its position in shares of SEA by 53.9% during the 3rd quarter. Grove Bank & Trust now owns 614 shares of the Internet company based in Singapore's stock worth $60,000 after buying an additional 215 shares during the period. Cornerstone Planning Group LLC raised its stake in SEA by 26.5% during the first quarter. Cornerstone Planning Group LLC now owns 831 shares of the Internet company based in Singapore's stock worth $70,000 after acquiring an additional 174 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of SEA by 611.1% during the second quarter. Independence Bank of Kentucky now owns 1,280 shares of the Internet company based in Singapore's stock valued at $123,000 after acquiring an additional 1,100 shares during the period. HB Wealth Management LLC bought a new position in shares of SEA during the second quarter valued at $203,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of SEA by 43.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,493 shares of the Internet company based in Singapore's stock valued at $206,000 after acquiring an additional 751 shares during the period. 59.53% of the stock is currently owned by institutional investors.

About SEA

Sea Limited is a Singapore-based global technology company founded in 2009. Formerly known as Garena, the company operates digital businesses serving consumers and merchants primarily in Southeast Asia, Taiwan and selected markets in Latin America and other regions.

Through Shopee, Sea's e-commerce platform, the company provides online marketplaces that connect buyers and sellers and offer supporting services such as payments, logistics and merchant tools. Garena, its digital entertainment business, develops and publishes online games and distributes third-party titles, while also operating digital entertainment platforms and services.

SeaMoney is the company's digital financial services division.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.