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

SEA (NYSE:SE) had its price target dropped by equities researchers at TD Cowen from $100.00 to $90.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the Internet company based in Singapore’s stock. TD Cowen‘s target price points to a potential upside of 20.24% from the company’s previous close.

Several other brokerages have also issued reports on SE. Benchmark lifted their price target on shares of SEA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada upgraded shares of SEA from a “sector perform” rating to a “buy” rating in a research report on Tuesday, September 8th. Barclays increased their price objective on shares of SEA from $122.00 to $156.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Weiss Ratings restated a “hold (c)” rating on shares of SEA in a research report on Tuesday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SEA in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, SEA currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.36.

SEA Price Performance

NYSE:SE traded down $1.95 during trading hours on Wednesday, hitting $74.85. The company’s stock had a trading volume of 5,048,162 shares, compared to its average volume of 5,162,849. SEA has a twelve month low of $71.53 and a twelve month high of $150.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.49 and a quick ratio of 1.48. The stock has a fifty day simple moving average of $93.29 and a 200-day simple moving average of $97.38. The company has a market capitalization of $45.74 billion, a P/E ratio of 28.86, a PEG ratio of 0.80 and a beta of 1.58.

SEA (NYSE:SE) last issued its earnings results on Tuesday, November 10th. The Internet company based in Singapore reported $0.78 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.21). The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.08 billion. SEA had a return on equity of 13.54% and a net margin of 5.98%. The firm’s revenue was up 43.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. On average, analysts anticipate that SEA will post 2.88 EPS for the current fiscal year.

Insider Activity

In related news, insider Yanjun Wang sold 800 shares of SEA stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $78.32, for a total transaction of $62,656.00. Following the sale, the insider directly owned 64,780 shares in the company, valued at $5,073,569.60. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Feng Zhao sold 30,000 shares of SEA stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $80.22, for a total transaction of $2,406,600.00. Following the sale, the insider owned 63,580 shares in the company, valued at approximately $5,100,387.60. This represents a 32.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 874,536 shares of company stock worth $97,313,140. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On SEA

Several large investors have recently modified their holdings of the business. USS Investment Management Ltd grew its position in shares of SEA by 5.9% in the 3rd quarter. USS Investment Management Ltd now owns 660,654 shares of the Internet company based in Singapore’s stock valued at $64,328,000 after buying an additional 36,955 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of SEA in the third quarter worth approximately $243,000. Ieq Capital LLC lifted its stake in shares of SEA by 1.6% in the third quarter. Ieq Capital LLC now owns 68,883 shares of the Internet company based in Singapore’s stock worth $6,706,000 after acquiring an additional 1,094 shares during the period. Cibc World Market Inc. lifted its stake in shares of SEA by 27.5% in the third quarter. Cibc World Market Inc. now owns 53,808 shares of the Internet company based in Singapore’s stock worth $5,239,000 after acquiring an additional 11,598 shares during the period. Finally, Brilliance Asset Management Ltd. bought a new stake in SEA in the third quarter valued at approximately $5,910,000. Institutional investors own 59.53% of the company’s stock.

Top SEA Stories

These are some of the SE stories that stood out recently:

• Positive Sentiment: Third-quarter revenue increased 43.4% year over year to $8.58 billion, beating estimates, while net income rose 34% to $502.5 million. Sea reported growth across its Shopee, Monee and Garena businesses. Sea Limited Q3 results
• Negative Sentiment: EPS of $0.78 missed the cited consensus of $0.99. The earnings shortfall appears to have outweighed the revenue beat, contributing to the stock’s decline after results. Sea Q3 earnings
• Negative Sentiment: Investors may be concerned that Monee’s credit-loss provisions rose 82.3%, raising questions about lending risk and pressure on profitability. Sea Q3 growth and credit-loss provisions

About SEA

Sea Limited is a Singapore-based technology company operating digital entertainment, e-commerce and digital financial services businesses. Founded in 2009 as Garena, the company adopted the name Sea Limited in 2017. Its digital entertainment business, Garena, publishes and develops online games and also provides a platform for users to access games and connect with other players. Shopee, Sea’s e-commerce platform, serves consumers and merchants in Southeast Asia and other markets, including Taiwan and parts of Latin America.