Bank of America Boosts SEA (NYSE:SE) Price Target to $77.00

SEA (NYSE:SE) had its target price upped by investment analysts at Bank of America from $75.00 to $77.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the Internet company based in Singapore’s stock. Bank of America‘s target price would indicate a potential upside of 14.98% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Dbs Bank restated a “hold” rating and issued a $75.00 price target on shares of SEA in a report on Friday, June 28th. Morgan Stanley upgraded SEA from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $70.00 in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $60.00 price target on shares of SEA in a report on Wednesday, May 15th. Barclays upped their target price on SEA from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Finally, TD Cowen upped their target price on SEA from $52.00 to $64.00 and gave the company a “hold” rating in a research note on Wednesday, May 15th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, SEA has a consensus rating of “Moderate Buy” and a consensus price target of $74.53.

SEA Stock Performance

NYSE SE opened at $66.97 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.44 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $72.07 and its two-hundred day moving average is $58.50. SEA has a 12-month low of $34.35 and a 12-month high of $76.60. The stock has a market capitalization of $38.33 billion, a price-to-earnings ratio of 1,339.40 and a beta of 1.51.

SEA (NYSE:SE) last released its earnings results on Tuesday, May 14th. The Internet company based in Singapore reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.40). SEA had a return on equity of 0.80% and a net margin of 0.39%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. Research analysts expect that SEA will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SE. Assenagon Asset Management S.A. lifted its stake in shares of SEA by 12,344.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,655,668 shares of the Internet company based in Singapore’s stock worth $107,555,000 after purchasing an additional 2,634,327 shares in the last quarter. Canvas Wealth Advisors LLC lifted its stake in shares of SEA by 47.3% during the fourth quarter. Canvas Wealth Advisors LLC now owns 15,197 shares of the Internet company based in Singapore’s stock worth $615,000 after purchasing an additional 4,878 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of SEA by 152.4% during the fourth quarter. Blue Trust Inc. now owns 843 shares of the Internet company based in Singapore’s stock worth $36,000 after purchasing an additional 509 shares in the last quarter. Cigna Investments Inc. New lifted its stake in shares of SEA by 6.0% during the fourth quarter. Cigna Investments Inc. New now owns 7,119 shares of the Internet company based in Singapore’s stock worth $288,000 after purchasing an additional 401 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of SEA by 70.9% during the fourth quarter. UMB Bank n.a. now owns 788 shares of the Internet company based in Singapore’s stock worth $32,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 59.53% of the company’s stock.

About SEA

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 promotes eSports operations.