SEA (NYSE:SE) Upgraded to Buy by Bank of America

Bank of America upgraded shares of SEA (NYSE:SE) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat.com reports. They currently have $70.00 price target on the Internet company based in Singapore’s stock, up from their prior price target of $62.00.

Other analysts also recently issued reports about the company. Citigroup upgraded 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 report on Thursday, February 1st. Barclays increased their price objective on SEA from $59.00 to $68.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Benchmark increased their price objective on SEA from $65.00 to $78.00 and gave the company a buy rating in a report on Tuesday, March 5th. Morgan Stanley upped their price target on shares of SEA from $47.00 to $65.00 and gave the company an equal weight rating in a research report on Wednesday, March 6th. Finally, HSBC upped their price target on shares of SEA from $70.00 to $76.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $68.31.

SEA Stock Performance

Shares of NYSE:SE opened at $59.42 on Monday. The company’s 50 day simple moving average is $53.04 and its 200 day simple moving average is $44.65. The stock has a market capitalization of $33.56 billion, a price-to-earnings ratio of 247.58 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.44 and a quick ratio of 1.43. SEA has a 1 year low of $34.35 and a 1 year high of $88.39.

SEA (NYSE:SE) last announced its quarterly earnings data 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). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. SEA had a net margin of 1.27% and a return on equity of 2.54%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $0.72 earnings per share. As a group, research analysts predict that SEA will post 1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On SEA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its holdings in SEA by 3.9% in the 1st quarter. IFM Investors Pty Ltd now owns 72,382 shares of the Internet company based in Singapore’s stock worth $3,888,000 after buying an additional 2,709 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in SEA by 42.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,220,930 shares of the Internet company based in Singapore’s stock worth $65,576,000 after buying an additional 363,694 shares during the period. Wasatch Advisors LP boosted its holdings 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 worth $82,955,000 after buying an additional 48,273 shares during the period. Matthews International Capital Management LLC bought a new position in SEA in the 1st quarter valued at $16,737,000. Finally, Gulf International Bank UK Ltd boosted its holdings in SEA by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 28,745 shares of the Internet company based in Singapore’s stock valued at $1,543,000 after purchasing an additional 258 shares during the period. Hedge funds and other institutional investors own 59.53% of the company’s stock.

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.