SEA (NYSE:SE) Stock Gets Price Target Cut from StoneX

Key Points

• StoneX cut its SEA price target to $155 from $175 but maintained a Buy rating, implying about 110% upside from the prior close. Analysts’ consensus rating is Moderate Buy, with an average target of $135.17.
• SEA’s latest quarterly revenue rose 43.7% year over year to $8.58 billion, topping estimates, while EPS of $0.78 fell short of the $0.99 consensus.
• Analyst views are mixed: TD Cowen lowered its target to $90 and kept a Hold rating, while several other firms maintained or issued Buy ratings.

SEA (NYSE:SE - Get Free Report) had its price target cut by investment analysts at StoneX from $175.00 to $155.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the Internet company based in Singapore's stock. StoneX's price target would suggest a potential upside of 110.01% from the company's previous close.

Other analysts have also issued research reports about the stock. TD Cowen lowered their price objective on shares of SEA from $100.00 to $90.00 and set a "hold" rating for the company in a research note on Wednesday. Benchmark increased their target price on shares of SEA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Arete Research upgraded shares of SEA from a "neutral" rating to a "buy" rating and set a $152.00 price target for the company in a report on Monday, September 7th. Bank of America set a $110.00 price target on shares of SEA and gave the stock a "buy" rating in a report on Wednesday. Finally, New Street Research downgraded shares of SEA from a "buy" rating to a "neutral" rating and set a $70.00 price target for the company. in a research note on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.17.

SEA Stock Performance

Shares of SE opened at $73.81 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.07. The firm's fifty day simple moving average is $92.51 and its two-hundred day simple moving average is $97.12. SEA has a 12 month low of $71.53 and a 12 month high of $150.79. The stock has a market capitalization of $45.10 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 0.79 and a beta of 1.58.

SEA (NYSE:SE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 10th. The Internet company based in Singapore reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.21). SEA had a net margin of 5.89% and a return on equity of 13.85%. The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm's revenue for the quarter was up 43.7% compared to the same quarter last year. As a group, analysts predict that SEA will post 2.88 EPS for the current year.

Insider Buying and Selling at SEA

In related news, insider Jingye Chen sold 30,000 shares of SEA stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $108.87, for a total value of $3,266,100.00. Following the completion of the transaction, the insider directly owned 270,000 shares in the company, valued at approximately $29,394,900. The trade was a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gang Ye sold 30,000 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $120.08, for a total transaction of $3,602,400.00. Following the sale, the chief operating officer directly owned 310,000 shares in the company, valued at $37,224,800. The trade was a 8.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 808,306 shares of company stock valued at $89,099,509 in the last quarter. Corporate insiders own 0.22% of the company's stock.

Hedge Funds Weigh In On SEA

Hedge funds have recently made changes to their positions in the stock. Carrhae Capital LLP purchased a new stake in SEA during the 2nd quarter worth about $140,501,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in SEA by 4.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,241,023 shares of the Internet company based in Singapore's stock valued at $120,826,000 after buying an additional 52,660 shares in the last quarter. Baird Financial Group Inc. grew its holdings in SEA by 6.2% during the 2nd quarter. Baird Financial Group Inc. now owns 879,107 shares of the Internet company based in Singapore's stock valued at $84,245,000 after buying an additional 50,965 shares in the last quarter. USS Investment Management Ltd increased its position in shares of SEA by 5.9% during the third quarter. USS Investment Management Ltd now owns 660,654 shares of the Internet company based in Singapore's stock valued at $64,328,000 after buying an additional 36,955 shares during the period. Finally, Carmignac Gestion increased its position in shares of SEA by 2.2% during the second quarter. Carmignac Gestion now owns 651,818 shares of the Internet company based in Singapore's stock valued at $62,349,000 after buying an additional 14,242 shares during the period. 59.53% of the stock is currently owned by hedge funds and other institutional investors.

About SEA

Sea Limited is a Singapore-based technology company operating digital entertainment, e-commerce and digital financial services businesses. Founded in 2009 as Garena, the company adopted the name Sea Limited in 2017. Its digital entertainment business, Garena, publishes and develops online games and also provides a platform for users to access games and connect with other players. Shopee, Sea's e-commerce platform, serves consumers and merchants in Southeast Asia and other markets, including Taiwan and parts of Latin America.

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