Sea Limited (SE) Receives a Rating Update from a Top Analyst


In a report released today, Scott Devitt from Stifel Nicolaus maintained a Buy rating on Sea Limited (SE), with a price target of $16. The company’s shares opened today at $11.76.

Devitt observed:

“We view this formal agreement as an important vote of confidence for Sea (in addition to Tencent’s ~34% ownership stake). Reiterate Buy. Key Points 3Q:18 highlights: Sea reported 3Q adj. revenue growth of +60% y/y to $243mm, +11% above our $218mm forecast. Sea had an adj. EBITDA loss of -$184mm, versus our – $174mm expectation, as the company continues to aggressively fund market share gains in the eCommerce business. We view the adj. EBITDA loss outcome relatively positively given GMV was $460mm higher than our forecast, indicating improving eCommerce cost trends including more efficient marketing spend / shipping subsidies. Additionally, the company announced the departure of Hellawell, effective Friday, citing personal reasons (Hellawell recently joined in October 2017).”

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 17.8% and a 62.3% success rate. Devitt covers the Technology sector, focusing on stocks such as Paypal Holdings, Eventbrite Inc, and Alphabet Inc.

Currently, the analyst consensus on Sea Limited is a Moderate Buy with an average price target of $19, a 61.6% upside from current levels. In a report released today, Piper Jaffray also maintained a Buy rating on the stock with a $18 price target.

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The company has a one-year high of $17.19 and a one-year low of $10.06. Currently, Sea Limited has an average volume of 1.34M.

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Sea Ltd. (Singapore) 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.

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