From Financial Modeling Prep: 2024-10-16 12:52:00

Sea Ltd. (NYSE:SE) shares rose over 2% as Citi analysts raised their price target to $113, citing strong growth prospects. Sea is set to report Q3 2024 results soon, with advancements in e-commerce and digital entertainment expected.

Sea’s second-quarter report showed increased guidance for Shopee, with mid-20% GMV growth and positive adjusted EBITDA projected for Q3. Shopee’s adjusted EBITDA for Q3 is estimated at $21 million, supported by GMV and revenue growth rates of 21.8% and 34%.

The digital entertainment division is expected to see a 20% increase in bookings in Q3, driven by past promotional events. Overall, Q3 performance is anticipated to be solid, with potential revenue gains in e-commerce and DFS, as well as improvements in games and DFS EBITDA.

Analysts predict Sea will continue its growth momentum, benefiting from a favorable competitive landscape and increased seasonal demand in Q4.



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