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

Bank of America upgraded shares of SEA (NYSE:SE) from a neutral rating to a buy rating in a report published on Monday morning, Marketbeat Ratings reports. Bank of America currently has $70.00 price objective on the Internet company based in Singapore’s stock, up from their previous price objective of $62.00.

A number of other research analysts have also commented on the stock. Morgan Stanley raised their price objective on shares of SEA from $47.00 to $65.00 and gave the company an equal weight rating in a research note on Wednesday, March 6th. Sanford C. Bernstein lifted their price target on shares of SEA from $60.00 to $70.00 and gave the stock an outperform rating in a research report on Thursday, March 14th. Citigroup upgraded shares of SEA from a neutral rating to a buy rating and lifted their price target for the stock from $44.00 to $50.00 in a research report on Thursday, February 1st. Benchmark lifted their price target on shares of SEA from $65.00 to $78.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, Daiwa Capital Markets upgraded shares of SEA from a neutral rating to a buy rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, SEA presently has an average rating of Moderate Buy and a consensus price target of $70.00.

SEA Stock Performance

Shares of SE stock opened at $62.82 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 1.44. SEA has a one year low of $34.35 and a one year high of $88.39. The company’s 50-day simple moving average is $53.85 and its 200-day simple moving average is $44.92. The stock has a market capitalization of $35.48 billion, a price-to-earnings ratio of 261.75 and a beta of 1.50.

SEA (NYSE:SE) last issued its 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 return on equity of 2.54% and a net margin of 1.27%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the business earned $0.72 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate that SEA will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SEA

Large investors have recently bought and sold shares of the business. CWM LLC raised its holdings in SEA by 162.5% in the third quarter. CWM LLC now owns 4,307 shares of the Internet company based in Singapore’s stock worth $189,000 after purchasing an additional 2,666 shares during the period. IFP Advisors Inc raised its holdings in shares of SEA by 42.7% during the third quarter. IFP Advisors Inc now owns 2,185 shares of the Internet company based in Singapore’s stock worth $96,000 after acquiring an additional 654 shares during the period. Summit Global Investments acquired a new stake in shares of SEA during the third quarter worth $371,000. Bellecapital International Ltd. raised its holdings in shares of SEA by 17.8% during the third quarter. Bellecapital International Ltd. now owns 9,927 shares of the Internet company based in Singapore’s stock worth $436,000 after acquiring an additional 1,500 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of SEA by 48.0% during the third quarter. Exchange Traded Concepts LLC now owns 237,216 shares of the Internet company based in Singapore’s stock worth $10,426,000 after acquiring an additional 76,915 shares during the period. 59.53% of the stock is currently owned by institutional investors and hedge funds.

SEA Company Profile

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.