- The shares of Sea Ltd (NYSE: SE) have received a $455 price target from CLSA. These are the details.
The shares of Sea Ltd (NYSE: SE) have received a $455 price target from CLSA. And CLSA analyst Neel Sinha upgraded Sea Limited to a “Buy” rating from “Outperform” while increasing the price target from $352.
Sinha rolled forward valuations following the company’s third quarter report. And Sinha pointed out that while the higher costs at Shopee and lower revenue growth at Garena prompted third quarter results to miss expectations from Sinha and the consensus, he believes that the potential from new markets plus growth in existing markets for both look attractive for the next few years.
Earlier this month, Sea Limited had announced its financial results for the third quarter ended September 30, 2021. These were the Q3 2021 highlights:
— Total GAAP revenue was US$2.7 billion, up 121.8% year-on-year.
— Total gross profit was $1 billion, up 147.5% year-on-year.
— The total adjusted EBITDA was US$(165.5) million compared to US$120.4 million for the third quarter of 2020.
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