These Analysts Boost Their Forecasts On Sea After Q4 Results
Portfolio Pulse from Avi Kapoor
Sea Limited (NYSE:SE) reported Q4 sales surpassing estimates with $3.62 billion against the expected $3.53 billion. Despite a quarterly loss of 19 cents per share compared to last year's profit of 72 cents, the company saw a 40.6% Y/Y increase in core marketplace revenue and a 46.0% Y/Y rise in gross orders. CEO Forrest Li announced Sea's first full year of annual profit since its IPO, with a strong balance sheet and a cash position of $8.5 billion. Sea expects Shopee's GMV growth in the high teens and a positive adjusted EBITDA in H2 2023. Following the report, Sea shares rose 5.6% to $53.90, and analysts from Bernstein and JP Morgan raised their price targets to $60 and $70, respectively.

March 05, 2024 | 12:13 pm
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Sea Limited reported better-than-expected Q4 sales and announced its first full year of profit since IPO. Analysts from Bernstein and JP Morgan raised their price targets following the earnings report.
The positive earnings report and the first full year of profit announcement are significant for Sea Limited, indicating strong financial health and operational success. The raised price targets by Bernstein and JP Morgan reflect increased confidence from analysts, likely leading to a positive short-term impact on SE's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100