Barclays Cuts SEA (NYSE:SE) Price Target to $120.00

SEA (NYSE:SE) had its price target reduced by Barclays from $226.00 to $120.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the Internet company based in Singapore’s stock.

Several other research analysts have also weighed in on the stock. Wedbush decreased their price objective on shares of SEA from $190.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, December 19th. Zacks Research cut shares of SEA from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 10th. Phillip Securities upgraded SEA from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Morgan Stanley reissued an “overweight” rating and issued a $173.00 price objective on shares of SEA in a report on Wednesday, February 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $150.00 price objective on shares of SEA in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SEA currently has an average rating of “Moderate Buy” and a consensus price target of $178.66.

SEA Stock Performance

SEA stock opened at $92.04 on Thursday. SEA has a 52 week low of $77.05 and a 52 week high of $199.30. The company has a current ratio of 1.58, a quick ratio of 1.42 and a debt-to-equity ratio of 0.04. The stock has a market cap of $54.22 billion, a P/E ratio of 36.52 and a beta of 1.59. The stock has a 50 day moving average of $117.24 and a 200-day moving average of $145.70.

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

SEA declared that its Board of Directors has initiated a share buyback program on Monday, November 17th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the Internet company based in Singapore to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On SEA

Institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its holdings in shares of SEA by 1.9% in the 4th quarter. Venturi Wealth Management LLC now owns 5,208 shares of the Internet company based in Singapore’s stock worth $664,000 after purchasing an additional 98 shares during the last quarter. Belpointe Asset Management LLC grew its stake in SEA by 1.8% during the 3rd quarter. Belpointe Asset Management LLC now owns 5,779 shares of the Internet company based in Singapore’s stock worth $1,033,000 after buying an additional 103 shares during the last quarter. Rothschild Investment LLC increased its position in SEA by 114.0% in the third quarter. Rothschild Investment LLC now owns 199 shares of the Internet company based in Singapore’s stock worth $36,000 after buying an additional 106 shares during the period. GAMMA Investing LLC lifted its stake in SEA by 4.8% in the third quarter. GAMMA Investing LLC now owns 3,112 shares of the Internet company based in Singapore’s stock valued at $556,000 after buying an additional 142 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in SEA by 2,860.0% in the third quarter. Salomon & Ludwin LLC now owns 148 shares of the Internet company based in Singapore’s stock valued at $27,000 after buying an additional 143 shares during the last quarter. 59.53% of the stock is owned by 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.