2024-05-19 09:00:00 ET
Summary
- SE has outperformed the market thus far, thanks to its solid performance across the E-commerce, Finance, and Gaming segments, exceeding expectations.
- The management's reiterated FY2024 guidance has also contributed to the raised consensus forward estimates through FY2026.
- Combined with the healthy balance sheet and minimal near-term risks from GoTo/ TikTok, we believe that SE appears to be reasonably valued compared to its peers.
- The management continues to ramp up Shopee's content ecosystem, while sustaining its live streaming efforts and improving its logistics management, boosting the stickiness/ experience of its consumer base.
- However, this also means that SE's FY2024 positive adj EBITDA margins may potentially be underwhelming. Investors beware.
We previously covered Sea Limited (NYSE: SE ) in March 2024, discussing its impressive FQ4'23 earnings results, which had triggered the stock's immense recovery well exceeding the wider market then....
Read the full article on Seeking Alpha
For further details see:
Sea Limited: Solid Growth And Improved Profitability Profile - Better Late Than Never