Sanford C. Bernstein Cuts SEA (NYSE:SE) Price Target to $150.00

SEA (NYSE:SE) had its target price trimmed by Sanford C. Bernstein from $170.00 to $150.00 in a report released on Wednesday, Marketbeat reports. The firm currently has an outperform rating on the Internet company based in Singapore’s stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $150.00 price target on shares of SEA in a report on Tuesday. Phillip Securities upgraded shares of SEA from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Barclays lifted their target price on shares of SEA from $214.00 to $226.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Zacks Research downgraded shares of SEA from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 10th. Finally, TD Cowen cut their price target on SEA from $165.00 to $144.00 and set a “hold” rating for the company in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, SEA presently has an average rating of “Moderate Buy” and an average price target of $178.66.

SEA Stock Performance

NYSE:SE opened at $92.04 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.42 and a current ratio of 1.58. The stock has a 50-day simple moving average of $117.24 and a two-hundred day simple moving average of $145.93. The firm has a market capitalization of $54.22 billion, a PE ratio of 36.52 and a beta of 1.59. SEA has a 52-week low of $77.05 and a 52-week high of $199.30.

SEA (NYSE:SE) last posted its quarterly earnings data on Tuesday, March 3rd. The Internet company based in Singapore reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.28). The company had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.42 billion. SEA had a net margin of 6.93% and a return on equity of 15.20%. The firm’s quarterly revenue was up 38.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 earnings per share. Analysts forecast that SEA will post 0.74 EPS for the current year.

SEA declared that its board has approved a stock repurchase program on Monday, November 17th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the Internet company based in Singapore to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On SEA

Institutional investors have recently bought and sold shares of the stock. Woodline Partners LP bought a new stake in SEA in the 1st quarter worth approximately $4,028,000. First Horizon Advisors Inc. boosted its position in shares of SEA by 10.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,207 shares of the Internet company based in Singapore’s stock valued at $353,000 after acquiring an additional 203 shares during the last quarter. Andra AP fonden grew its holdings in shares of SEA by 33.6% in the second quarter. Andra AP fonden now owns 134,900 shares of the Internet company based in Singapore’s stock valued at $21,576,000 after purchasing an additional 33,900 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of SEA by 15.1% in the second quarter. SBI Securities Co. Ltd. now owns 6,871 shares of the Internet company based in Singapore’s stock valued at $1,099,000 after purchasing an additional 903 shares in the last quarter. Finally, Freemont Capital Pte Ltd bought a new stake in SEA in the second quarter worth $448,000. 59.53% of the stock is owned by hedge funds and other institutional investors.

About SEA

Sea Limited (NYSE: SE) is a Singapore-based consumer internet company that operates a trio of interconnected businesses across digital entertainment, e-commerce and digital financial services. Founded in 2009 as Garena and later rebranded as Sea, the company is headquartered in Singapore and listed on the New York Stock Exchange. Sea positions itself as a technology platform focused on enabling online consumers, merchants and developers primarily across Southeast Asia and adjacent markets.

Sea’s digital entertainment arm, Garena, is a game developer and publisher that also organizes esports initiatives and operates online gaming platforms.