Bank of America Upgrades SEA (NYSE:SE) to “Buy”

SEA (NYSE:SE) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat reports. The brokerage currently has a $70.00 price objective on the Internet company based in Singapore’s stock, up from their previous price objective of $62.00. Bank of America‘s target price indicates a potential upside of 12.85% from the stock’s previous close.

Several other brokerages also recently weighed in on SE. Wedbush upped their target price on SEA from $45.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Barclays upped their target price on SEA from $59.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Sanford C. Bernstein increased their price objective on SEA from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Benchmark increased their price objective on SEA from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Citigroup raised SEA from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $50.00 in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.31.

SEA Price Performance

Shares of NYSE SE opened at $62.03 on Monday. The business’s 50 day moving average price is $53.04 and its 200 day moving average price is $44.65. The firm has a market cap of $35.03 billion, a P/E ratio of 258.46 and a beta of 1.50. SEA has a 52 week low of $34.35 and a 52 week high of $88.39. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.46.

SEA (NYSE:SE) last announced its quarterly earnings results on Monday, March 4th. The Internet company based in Singapore reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SEA had a net margin of 1.27% and a return on equity of 2.54%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts expect that SEA will post 1.01 earnings per share for the current year.

Hedge Funds Weigh In On SEA

Several hedge funds have recently bought and sold shares of SE. Sunbelt Securities Inc. raised its position in SEA by 91.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 670 shares of the Internet company based in Singapore’s stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. UMB Bank n.a. raised its position in SEA by 70.9% in the 4th quarter. UMB Bank n.a. now owns 788 shares of the Internet company based in Singapore’s stock valued at $32,000 after purchasing an additional 327 shares in the last quarter. GAMMA Investing LLC raised its position in SEA by 121.3% in the 1st quarter. GAMMA Investing LLC now owns 613 shares of the Internet company based in Singapore’s stock valued at $33,000 after purchasing an additional 336 shares in the last quarter. Blue Trust Inc. raised its position in SEA by 152.4% in the 4th quarter. Blue Trust Inc. now owns 843 shares of the Internet company based in Singapore’s stock valued at $36,000 after purchasing an additional 509 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in SEA by 90.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,020 shares of the Internet company based in Singapore’s stock valued at $45,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 59.53% of the company’s stock.

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 eSports operations.