Shares of Sea Limited (NYSE: SE) surged more than 40% after it reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at -$0.66, which beat analysts’ consensus estimate of -$1.04 per share.
In addition, sales increased by 18.5% year-over-year, with revenue hitting $3.2 billion. This beat analysts’ target by $190 million.
Looking ahead, management revised its guidance for digital entertainment revenue downwards, citing macroeconomic uncertainties. Indeed, the new range is between $2.6 billion and $2.8 billion. For reference, the previous guidance was between $2.9 billion to $3.1 billion.
Is SE Stock a Buy or Sell?
SE stock has a Strong Buy consensus rating based on nine Buys, two Holds, and zero Sells assigned in the past three months. The average SE stock price target of $100 implies almost 54% upside potential.
