Barclays Issues Pessimistic Forecast for SEA (NYSE:SE) Stock Price

SEA (NYSE:SE) had its price target lowered by research analysts at Barclays from $226.00 to $120.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet company based in Singapore’s stock. Barclays‘s target price would indicate a potential upside of 30.38% from the stock’s current price.

Several other equities analysts have also issued reports on SE. Jefferies Financial Group restated a “buy” rating and issued a $150.00 target price on shares of SEA in a report on Tuesday. TD Cowen reduced their price target on shares of SEA from $165.00 to $144.00 and set a “hold” rating for the company in a research report on Monday, November 10th. Phillip Securities upgraded shares of SEA from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “hold (c-)” rating on shares of SEA in a report on Monday, December 29th. Finally, Morgan Stanley reissued an “overweight” rating and set a $173.00 price objective on shares of SEA in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $178.66.

SEA Price Performance

SEA stock opened at $92.04 on Thursday. The stock’s 50 day moving average is $117.24 and its 200 day moving average is $145.93. SEA has a one year low of $77.05 and a one year high of $199.30. The firm has a market cap of $54.22 billion, a P/E ratio of 36.52 and a beta of 1.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.42.

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

SEA announced that its board has approved a share repurchase program on Monday, November 17th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the Internet company based in Singapore to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On SEA

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fred Alger Management LLC grew its holdings in shares of SEA by 22.1% in the third quarter. Fred Alger Management LLC now owns 2,886,441 shares of the Internet company based in Singapore’s stock worth $515,894,000 after acquiring an additional 521,782 shares during the period. Charles Lim Capital Ltd grew its stake in shares of SEA by 172.7% during the 4th quarter. Charles Lim Capital Ltd now owns 750,000 shares of the Internet company based in Singapore’s stock valued at $95,678,000 after purchasing an additional 475,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of SEA by 24.4% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,791,660 shares of the Internet company based in Singapore’s stock valued at $228,549,000 after purchasing an additional 350,840 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of SEA during the 4th quarter valued at about $26,282,000. Finally, State of Tennessee Department of Treasury lifted its stake in shares of SEA by 32.4% in the 4th quarter. State of Tennessee Department of Treasury now owns 718,949 shares of the Internet company based in Singapore’s stock worth $83,750,000 after purchasing an additional 175,746 shares during the period. 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.