.png "Sea Limited (NYSE: SE)")
Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Sea Limited (SE) yesterday and set a price target of $27. The company’s shares closed yesterday at $23.01, close to its 52-week high of $23.60.
Devitt noted:
“We believe that recent results have shown an inflection in Shopee’s GMV, take rate, and sales and marketing spend leverage. In addition, Free Fire has become a breakout game and seems in the early days of monetization. We will revisit our target price following the closing of the share offering. We expect a more thorough reflection of the recent business inflection could more than offset dilution in our SOTP. We would be buyers of share weakness relating to the offering and expect the stock to resume its recent positive trend, post-pricing.”
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 21.7% and a 70.4% success rate. Devitt covers the Technology sector, focusing on stocks such as Paypal Holdings, Eventbrite Inc, and Alphabet Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sea Limited with a $24.67 average price target, a 7.2% upside from current levels. In a report issued on February 27, Piper Jaffray also maintained a Buy rating on the stock with a $25 price target.
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Based on Sea Limited’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $215 million. In comparison, last year the company had a GAAP net loss of $269 million.
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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.
