Wedbush Has Lowered Expectations for SEA (NYSE:SE) Stock Price

SEA (NYSE:SE) had its price objective cut by Wedbush from $190.00 to $170.00 in a research note issued on Friday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the Internet company based in Singapore’s stock. Wedbush’s price target suggests a potential upside of 39.46% from the stock’s current price.

A number of other equities research analysts also recently issued reports on SE. Wall Street Zen downgraded shares of SEA from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Morgan Stanley set a $209.00 price objective on shares of SEA in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of SEA in a research report on Monday, December 8th. Sanford C. Bernstein decreased their price target on SEA from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Finally, Arete Research lowered SEA from a “buy” rating to a “neutral” rating and set a $177.00 price target for the company. in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.61.

SEA Stock Performance

Shares of SEA stock opened at $121.90 on Friday. The firm has a market cap of $71.81 billion, a PE ratio of 53.47 and a beta of 1.58. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.03. SEA has a 52 week low of $99.50 and a 52 week high of $199.30. The business’s fifty day simple moving average is $144.64 and its 200-day simple moving average is $161.15.

SEA (NYSE:SE) last issued its quarterly earnings data on Wednesday, November 12th. The Internet company based in Singapore reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.52). SEA had a return on equity of 15.19% and a net margin of 6.80%.The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. Equities analysts forecast that SEA will post 0.74 earnings per share for the current year.

SEA declared that its board has approved a stock buyback program on Monday, November 17th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the Internet company based in Singapore to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SE. Vanguard Group Inc. increased its holdings in SEA by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 873,400 shares of the Internet company based in Singapore’s stock worth $113,970,000 after purchasing an additional 3,647 shares during the period. Raymond James Financial Inc. grew its position in shares of SEA by 20.7% during the first quarter. Raymond James Financial Inc. now owns 218,931 shares of the Internet company based in Singapore’s stock worth $28,568,000 after buying an additional 37,526 shares in the last quarter. Credit Agricole S A increased its stake in shares of SEA by 2.6% during the first quarter. Credit Agricole S A now owns 42,506 shares of the Internet company based in Singapore’s stock worth $5,547,000 after buying an additional 1,093 shares during the period. CW Advisors LLC acquired a new stake in SEA in the first quarter valued at approximately $208,000. Finally, Ameriprise Financial Inc. raised its holdings in SEA by 148.3% in the first quarter. Ameriprise Financial Inc. now owns 492,460 shares of the Internet company based in Singapore’s stock valued at $64,261,000 after acquiring an additional 294,150 shares in the last quarter. 59.53% of the stock is currently 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.