Bank of America Increases SEA (NYSE:SE) Price Target to $96.00

SEA (NYSE:SE) had its target price raised by stock analysts at Bank of America from $84.00 to $96.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the Internet company based in Singapore’s stock. Bank of America‘s price target would indicate a potential upside of 3.31% from the stock’s previous close.

A number of other brokerages have also issued reports on SE. TD Cowen upped their target price on shares of SEA from $64.00 to $69.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upgraded SEA from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $66.00 to $90.00 in a research note on Wednesday, August 14th. Dbs Bank reiterated a “hold” rating and issued a $75.00 target price on shares of SEA in a research report on Friday, June 28th. Loop Capital boosted their price target on SEA from $92.00 to $94.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Citigroup reduced their price objective on SEA from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.92.

SEA Price Performance

SE stock opened at $92.92 on Monday. The stock’s 50 day moving average is $74.71 and its two-hundred day moving average is $68.73. SEA has a 52-week low of $34.35 and a 52-week high of $92.99. The company has a market capitalization of $53.18 billion, a PE ratio of 1,858.40 and a beta of 1.51. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.41.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.45). The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. SEA had a negative return on equity of 2.92% and a negative net margin of 1.36%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. Analysts predict that SEA will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Syon Capital LLC bought a new position in shares of SEA in the fourth quarter worth $357,000. Hexagon Capital Partners LLC lifted its holdings in SEA by 63.1% in the second quarter. Hexagon Capital Partners LLC now owns 654 shares of the Internet company based in Singapore’s stock worth $47,000 after purchasing an additional 253 shares during the period. Wasatch Advisors LP grew its position in SEA by 3.2% in the 1st quarter. Wasatch Advisors LP now owns 1,544,492 shares of the Internet company based in Singapore’s stock valued at $82,955,000 after buying an additional 48,273 shares in the last quarter. Swedbank AB acquired a new position in SEA during the 1st quarter valued at about $4,404,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of SEA by 18.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,229 shares of the Internet company based in Singapore’s stock worth $10,862,000 after buying an additional 31,470 shares in the last quarter. 59.53% of the stock is owned by institutional investors and hedge funds.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations.