SEA (NYSE:SE) Downgraded by Zacks Investment Research

SEA (NYSE:SE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Sea Limited is an internet service provider company. It offers Digital Entertainment, E-Commerce and Digital Financial Services known as Garena, Shopee and AirPay. The company operates primarily in Indonesia, Taiwan, Vietnam, Thailand, Philippines, Malaysia and Singapore. Sea Limited is based in Singapore. “

A number of other research analysts have also recently issued reports on SE. Cowen lifted their target price on shares of SEA from $67.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Piper Sandler lifted their target price on shares of SEA from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Stifel Nicolaus cut shares of SEA from a “buy” rating to a “hold” rating and lifted their target price for the company from $55.00 to $62.00 in a research note on Thursday, May 14th. ValuEngine upgraded shares of SEA from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Finally, CLSA upgraded shares of SEA from an “underperform” rating to an “outperform” rating and set a $74.00 target price for the company in a research note on Tuesday, May 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $58.33.

SE stock opened at $109.11 on Tuesday. SEA has a twelve month low of $26.41 and a twelve month high of $116.00. The company has a market cap of $35.57 billion, a PE ratio of -51.31 and a beta of 1.34. The business’s 50-day simple moving average is $86.09 and its 200 day simple moving average is $55.66. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 1.42.

SEA (NYSE:SE) last announced its quarterly earnings results on Monday, May 18th. The Internet company based in Singapore reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.14). The business had revenue of $913.90 million for the quarter, compared to the consensus estimate of $890.94 million. SEA had a negative return on equity of 83.74% and a negative net margin of 41.46%. The firm’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.64) EPS. On average, equities research analysts anticipate that SEA will post -2.64 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of SEA by 221.0% in the 1st quarter. Van ECK Associates Corp now owns 310,141 shares of the Internet company based in Singapore’s stock worth $13,742,000 after buying an additional 213,522 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in SEA by 10.1% in the first quarter. Parametric Portfolio Associates LLC now owns 150,645 shares of the Internet company based in Singapore’s stock worth $6,675,000 after acquiring an additional 13,766 shares during the period. Altium Wealth Management LLC purchased a new stake in SEA in the first quarter worth about $387,000. SG Americas Securities LLC lifted its stake in SEA by 85.6% in the first quarter. SG Americas Securities LLC now owns 24,385 shares of the Internet company based in Singapore’s stock worth $1,080,000 after acquiring an additional 11,244 shares during the period. Finally, Bank of Montreal Can lifted its stake in SEA by 14.7% in the fourth quarter. Bank of Montreal Can now owns 8,635 shares of the Internet company based in Singapore’s stock worth $348,000 after acquiring an additional 1,106 shares during the period. 68.88% of the stock is owned by institutional investors.

SEA Company Profile

Sea Limited engages in the digital entertainment, e-commerce, and digital financial service businesses in Taiwan, Thailand, Vietnam, Indonesia, and internationally. It provides Garena digital entertainment platform for users to access mobile and PC online games, and eSports operations; and access to other entertainment content, such as live streaming of online gameplay and social features.

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