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Sea Limited (SE) Stock Jumps 6.9%: Will It Continue to Soar?

Zacks Equity Research
·2-min read

Sea Limited Sponsored ADR SE shares rallied 6.9% in the last trading session to close at $56.38. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.9% loss over the past four weeks.

Sea is beneiting from expanding user base at its Shopee e-commerce business.

This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of -41%. Revenues are expected to be $3.76 billion, up 26.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Sea Limited, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Sea Limited belongs to the Zacks Internet - Software industry. Another stock from the same industry, Freshworks Inc. FRSH, closed the last trading session 1.2% higher at $17.30. Over the past month, FRSH has returned -4.8%.

For Freshwork , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. This represents a change of +166.7% from what the company reported a year ago. Freshwork currently has a Zacks Rank of #3 (Hold).

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Sea Limited Sponsored ADR (SE) : Free Stock Analysis Report

Freshworks Inc. (FRSH) : Free Stock Analysis Report

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Zacks Investment Research