SEA (NYSE:SE) Stock Price Target Cut by TD Cowen

Key Points

• TD Cowen cut its SEA price target to $90 from $100 and maintained a Hold rating, implying about 20% upside from the prior close.
• Analyst views remain mixed but lean positive: SEA has a Moderate Buy consensus rating and an average target of $133.36, while other recent targets include $110 from Bank of America and $142 from Jefferies.
• SEA’s latest quarter topped revenue expectations at $8.58 billion, up 43.7% year over year, but EPS of $0.78 missed the $0.99 consensus; the stock traded at $74.85 in Wednesday’s session.

SEA (NYSE:SE - Get Free Report) had its price target lowered by TD Cowen from $100.00 to $90.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "hold" rating on the Internet company based in Singapore's stock. TD Cowen's target price would suggest a potential upside of 20.24% from the stock's previous close.

A number of other research firms have also recently issued reports on SE. Bank of America set a $110.00 target price on shares of SEA and gave the stock a "buy" rating in a research note on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of SEA in a research note on Tuesday. Jefferies Financial Group lowered their price target on shares of SEA from $164.00 to $142.00 and set a "buy" rating on the stock in a report on Tuesday. Sanford C. Bernstein restated an "outperform" rating on shares of SEA in a research report on Monday, July 20th. Finally, Arete Research upgraded shares of SEA from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a research report on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $133.36.

SEA Stock Performance

NYSE:SE traded down $1.95 on Wednesday, hitting $74.85. The company's stock had a trading volume of 5,048,162 shares, compared to its average volume of 5,162,849. 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 stock has a fifty day moving average of $93.29 and a two-hundred day moving average of $97.38. The firm has a market capitalization of $45.74 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58. SEA has a one year low of $71.53 and a one year high of $150.79.

SEA (NYSE:SE - Get Free Report) last issued its earnings results on Tuesday, November 10th. The Internet company based in Singapore reported $0.78 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.21). SEA had a return on equity of 13.54% and a net margin of 5.98%. The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business's revenue was up 43.7% compared to the same quarter last year. Research analysts predict that SEA will post 2.88 earnings per share for the current year.

Insider Buying and Selling at SEA

In related news, insider Feng Zhao sold 40,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $95.02, for a total transaction of $3,800,800.00. Following the transaction, the insider directly owned 93,580 shares of the company's stock, valued at approximately $8,891,971.60. This trade represents a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jingye Chen sold 30,000 shares of SEA stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $108.87, for a total transaction of $3,266,100.00. Following the completion of the sale, the insider owned 270,000 shares of the company's stock, valued at $29,394,900. This trade represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 874,536 shares of company stock valued at $97,313,140. 0.22% of the stock is currently owned by insiders.

Institutional Trading of SEA

Large investors have recently modified their holdings of the stock. Provenance Wealth Advisors LLC increased its holdings in SEA by 1,511.1% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 290 shares of the Internet company based in Singapore's stock valued at $28,000 after buying an additional 272 shares during the period. Grove Bank & Trust boosted 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 acquiring an additional 215 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in SEA by 26.5% in the first quarter. Cornerstone Planning Group LLC now owns 831 shares of the Internet company based in Singapore's stock valued at $70,000 after acquiring an additional 174 shares during the last quarter. Allworth Financial LP increased its stake in SEA by 28.5% in the third quarter. Allworth Financial LP now owns 1,168 shares of the Internet company based in Singapore's stock valued at $112,000 after acquiring an additional 259 shares during the last quarter. Finally, Independence Bank of Kentucky raised its position in 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 purchasing an additional 1,100 shares in the last quarter. 59.53% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about SEA

Investors following SE have been watching these headlines:

• Positive Sentiment: The board authorized an additional $1 billion share repurchase, potentially supporting shareholder returns. Sea earnings and investment outlook
• Negative Sentiment: EPS of $0.78 missed the cited consensus of $0.99. The earnings shortfall appears to have outweighed the revenue beat, contributing to the stock’s decline after results. Sea Q3 earnings
• Negative Sentiment: Insider Yanjun Wang disclosed multiple recent sales of 800 shares each. The transactions are small relative to his remaining holdings, but repeated insider selling may add to cautious sentiment. Insider transaction report

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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