Bank of America Increases SEA (NYSE:SE) Price Target to $92.00

Posted by on Mar 11th, 2023

SEA (NYSE:SE – Get Rating) had its price objective upped by equities research analysts at Bank of America from $68.00 to $92.00 in a research report issued to clients and investors on Thursday, The Fly reports. Bank of America‘s price target indicates a potential upside of 25.26% from the stock’s previous close.

Several other equities analysts have also commented on SE. TD Cowen increased their target price on SEA from $60.00 to $64.00 and gave the company a “market perform” rating in a report on Wednesday. Morgan Stanley reduced their price target on SEA from $116.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, November 17th. Citigroup increased their target price on shares of SEA from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. HSBC lifted their price target on shares of SEA from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group increased their price target on SEA from $104.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SEA currently has an average rating of “Moderate Buy” and a consensus price target of $96.43.

SEA Price Performance

Shares of SEA stock opened at $73.45 on Thursday. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of -24.40 and a beta of 1.66. SEA has a one year low of $40.67 and a one year high of $136.43. The stock has a 50 day moving average price of $63.64 and a 200-day moving average price of $58.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.77 and a current ratio of 1.83.

SEA (NYSE:SE – Get Rating) last released its earnings results on Tuesday, March 7th. The Internet company based in Singapore reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $1.47. SEA had a negative net margin of 13.28% and a negative return on equity of 26.25%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the business earned ($1.12) EPS. SEA’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts expect that SEA will post -0.99 EPS for the current year.

Institutional Investors Weigh In On SEA

Several institutional investors have recently bought and sold shares of the company. Ronald Blue Trust Inc. purchased a new position in shares of SEA during the 2nd quarter valued at approximately $46,000. Truvestments Capital LLC purchased a new stake in shares of SEA during the 2nd quarter worth $29,000. SeaCrest Wealth Management LLC purchased a new stake in SEA in the second quarter valued at $34,000. Laffer Tengler Investments acquired a new position in SEA in the first quarter valued at $66,000. Finally, Pinnacle Holdings LLC purchased a new stake in SEA during the first quarter worth about $68,000. 74.92% of the stock is currently owned by institutional investors and hedge funds.

About SEA

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Sea Ltd. is an internet and mobile platform company, which engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce, and Digital Financial Services. The Digital Entertainment segment offers and develops mobile and PC online games.

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