SEA (NYSE:SE) Upgraded at Bank of America

Bank of America upgraded shares of SEA (NYSE:SE) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat.com reports. The firm currently has $70.00 target price on the Internet company based in Singapore’s stock, up from their previous target price of $62.00.

A number of other research firms have also recently issued reports on SE. Wedbush increased their target price on SEA from $45.00 to $72.00 and gave the stock an outperform rating in a report on Tuesday, March 5th. Daiwa Capital Markets upgraded shares of SEA from a neutral rating to a buy rating in a research note on Friday, February 2nd. Sanford C. Bernstein increased their price objective on shares of SEA from $60.00 to $70.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. upgraded shares of SEA from a neutral rating to an overweight rating and increased their price objective for the stock from $43.00 to $70.00 in a research note on Tuesday, March 5th. Finally, Barclays increased their price objective on shares of SEA from $59.00 to $68.00 and gave the stock an overweight rating in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $70.00.

SEA Price Performance

SE stock opened at $63.27 on Monday. The stock has a 50-day moving average price of $53.44 and a two-hundred day moving average price of $44.79. The stock has a market cap of $35.73 billion, a PE ratio of 263.63 and a beta of 1.50. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. SEA has a 1 year low of $34.35 and a 1 year high of $88.39.

SEA (NYSE:SE) last released its earnings results on Monday, March 4th. The Internet company based in Singapore reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. SEA had a return on equity of 2.54% and a net margin of 1.27%. SEA’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Equities analysts forecast that SEA will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On SEA

Several hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its position in SEA by 30.8% during the fourth quarter. Baillie Gifford & Co. now owns 34,183,394 shares of the Internet company based in Singapore’s stock worth $1,384,427,000 after acquiring an additional 8,045,977 shares during the last quarter. Sands Capital Management LLC lifted its position in SEA by 3.5% during the third quarter. Sands Capital Management LLC now owns 16,119,943 shares of the Internet company based in Singapore’s stock worth $708,471,000 after acquiring an additional 542,996 shares during the last quarter. Norges Bank bought a new position in shares of SEA during the fourth quarter worth approximately $640,219,000. Ward Ferry Management BVI Ltd increased its holdings in shares of SEA by 13.2% during the third quarter. Ward Ferry Management BVI Ltd now owns 4,419,441 shares of the Internet company based in Singapore’s stock worth $194,234,000 after purchasing an additional 514,455 shares during the period. Finally, Kora Management LP increased its holdings in shares of SEA by 0.7% during the fourth quarter. Kora Management LP now owns 4,237,500 shares of the Internet company based in Singapore’s stock worth $171,619,000 after purchasing an additional 28,000 shares during the period. 59.53% of the stock is currently owned by institutional investors and hedge funds.

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 eSports operations.