47.00 +0.30 (0.64%)
After hours: 7:04PM EST
|Bid||46.00 x 800|
|Ask||47.00 x 900|
|Day's Range||46.06 - 49.79|
|52 Week Range||15.76 - 52.51|
|Beta (5Y Monthly)||1.39|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 02, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||46.61|
(Bloomberg) -- “Sonic the Hedgehog 3” had just been released and Keanu Reeves was about to hit the big screen in “Speed” when Marcin Iwinski and high school pal Michal Kicinski launched their video-game company.It was May 1994 and the CD-ROM was still in vogue, so they called their venture CD Projekt and set out to distribute games for the Polish market. They struck deals with developers including Activision and Acclaim Entertainment, translating dialog, instructions and packaging into their native language.A quarter-century later, at Microsoft Corp.’s 2019 Xbox conference in Los Angeles, Reeves shocked the video-game world, appearing onstage to present a demo of CD Projekt’s “Cyberpunk 2077” -- a futuristic, role-playing game in which he’ll appear.Shares of Warsaw-based CD Projekt have surged 43% since the Xbox event in June and more than 1,800% in the past five years, the best performance by far in Poland’s WIG20 Index, putting Iwinski, the 45-year-old co-chief executive officer, on the cusp of becoming a billionaire. He owns 12.6% of the outstanding stock, giving him a net worth of $992 million. Kicinski, who left the company several years ago, has a 10.9% stake worth $847 million.Both could soon join the rapidly growing ranks of video-game billionaires including Sea Ltd. co-founder Gang Ye, who crossed the threshold in November after the Singapore-based company reported that quarterly revenue tripled, as well as Epic Games Inc. founder Tim Sweeney, who brought “Fortnite” to the masses.See also: Fortnite billionaire pledges $100 million for game developersIn its infancy, CD Projekt struggled to make money distributing legal copies of games because Poles preferred to buy cheaper pirated versions on the black market. So Iwinski and Kicinski expanded into e-commerce sales and programming and established the CD Projekt RED gaming studio.In 2007, it introduced “Witcher” -- based on Andrzej Sapkowski’s fantasy novels -- and turned it into a series of games that draws from Slavic mythology and features a lone medieval warrior, surrounded by strong female characters, battling supernatural beasts. The most recent version, “Witcher 3,” sold tens of millions of copies and brought the studio global acclaim. Netflix recently launched “The Witcher” TV series, and its popularity could further boost game sales.What Our Analysts Say:“CD Projekt is expanding its online game-distribution business and increasing free-to-play titles ahead of promising new releases that will drive EPS growth in 2020 and beyond. Poland’s largest video-game maker is investing in a new first-person, role-playing game, Cyberpunk 2077, that should exceed the lofty heights achieved with Witcher 3.”Matthew Kanterman, Bloomberg IntelligenceSince the launch of ‘Witcher 3’ in 2015, the developer hasn’t released any major game that could drive new sales apart from add-ons or spinoffs from the existing franchise. In contrast with the industry’s giants which have diversified portfolios and a steady stream of new releases, CD Projekt is betting big on a single title.Cyberpunk’s highly anticipated April debut was pushed back to September for its 400 programmers and designers to “test, bug-fix and polish” the company’s next flagship product, according to a Jan. 16 regulatory filing that caused a fleeting drop in CD Projekt’s stock.Cyberpunk is intended to be one of the most technologically advanced productions for current gaming consoles.Ken Rumph, an analyst at Jefferies Financial Group Inc., has said the delay probably won’t inflict lasting damage on the company’s fortunes.“I don’t think it stops Cyberpunk from being the hit of the year,” he told Bloomberg last month.To contact the reporters on this story: Alex Sazonov in Moscow at firstname.lastname@example.org;Konrad Krasuski in Warsaw at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Peter Eichenbaum, David ScheerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Sea Limited Sponsored ADR (SE) closed at $45.72 in the latest trading session, marking a -0.2% move from the prior day.
Sea Limited (NYSE: SE) ("Sea" or the "Company") plans to announce its fourth quarter and full year 2019 results before the U.S. market opens on March 3, 2020, U.S. Eastern Time (March 3, 2020, Singapore / Hong Kong Time).
Sea Limited (NYSE: SE) ("Sea" or the "Company"), a leading global consumer internet company, today announced that its digital entertainment arm, Garena, has acquired Phoenix Labs, an acclaimed independent games development company and the studio behind the popular cross-platform co-op action RPG, Dauntless. The teams intend to work together to continue building Phoenix Labs’ world-class development team, supporting the growth of Dauntless, and exploring new opportunities in global markets and on mobile. The transaction closed in recent days.
Shares of Singapore-based internet company Sea Limited (SE) took off last year, rocketing higher by a massive 255%. Although the company is relatively unknown in the west, it is a wildly successful growth story in the ASEAN (Association of Southeast Asian Nations) region.If you’re wondering if it is worth getting in after such a mercurial run up, then according to Goldman Sachs analyst Miang Chuen Koh, 2020 will provide further upside, though nowhere near the levels seen in 2019. The analyst added SE to Goldman's Conviction List, while maintaining a Buy rating and raising the price target from $42.50 to $50.Sea operates through three segments: Digital Entertainment, E-Commerce, and Digital Financial Services.The digital entertainment segment is represented by Garena, a gaming and eSports platform which counts as the dominant platform in the region. Apart from licensing games from publishers such as Tencent and Activision Blizzard, Sea has also started publishing its own games. The first one to be released, Free Fire, has grossed more than $1 billion since launching two years ago. The move into producing the company’s own content is a smart one, as no royalties need to be paid out to third parties, therefore increasing profit margins. For The last 12 months the gaming platform’s year-over-year growth has increased by 86.7% with revenue almost doubling from $462 million to $863 million.Although Garena is extremely successful and currently provides the bulk of cash flow, the sector that is exciting Koh the most is Sea’s ecommerce platform; Shopee is the top e-commerce platform in the Southeast Asian region and Koh believes it will take center stage in 2020. While Garena’s growth rate has been impressive, Shopee’s growth curve has been even mightier; Last quarter’s revenue grew year-over-year by 261%, and the platform is on its way to becoming a $1 billion business less than 5 years after being founded. The company’s ambitious growth plan, though, means Shopee is still a way off from profitability.Nevertheless, Koh expects revenues and EBITDA to slightly beat consensus expectations in Sea’s 4Q19 results. The analyst noted, “Although the stock has more than tripled last year, we see further upside as we expect it to be a key beneﬁciary of the growing ASEAN/Taiwan internet space, supported by 1) strong content support from Tencent (30% shareholder); 2) a growing competitive position in the high-growth e-commerce market; and 3) ability to diversify/scale into the high-growth payments sector… We believe 2020 is the year for Sea’s e-commerce business to demonstrate its path to proﬁtability alongside high GMV growth.”The Street is unanimous when it comes to the ASEAN platform’s future prospects. 5 Buy ratings add up to a Strong Buy consensus rating. At $45.92, though, the average price target presents only modest upside of 2.6%. Either the analysts have yet to update their models or they believe Se has soared high enough for now. (See Sea Limited stock analysis on TipRanks)
Neoleukin Therapeutics Inc. (NLTX) edged up 27 cents to $11.38 on average volume of 555,100 shares traded Wednesday. The move, on no news from the biopharmaceutical company, extended the stock’s rally to five days in a row. The rally has seen the stock bounce off support and break above its declining tops line and lateral resistance.
Here are three stocks that have broken out of above resistance and are looking higher: Neoleukin Therapeutics, Inc. (NASDAQ: NLTX ) edged up 27 cents to $11.38 on average volume of 555,100 shares Wednesday. ...
(Bloomberg) -- Singapore’s Sea Ltd., Asia’s best-performing internet stock in 2019, is seeking a full digital banking license in Singapore, becoming the first declared sole applicant for that category.New York-listed Sea’s digital bank would focus on addressing the unmet needs of millennials and small businesses through technology, the company said in a statement. The Monetary Authority of Singapore said Tuesday that 21 groups made bids for the digital licenses, including seven for full digital banking licenses. Fourteen were for wholesale permits.MAS unveiled plans last year to grant as many as five virtual bank licenses to boost competition and innovation, and is set to announce the winners in June. Efforts to open up the Singapore banking industry to technology companies come on the heels of a similar move in Hong Kong, where units of Ant Financial and other Chinese firms including Tencent Holdings Ltd. obtained licenses. Ant has applied for a Singapore wholesale digital banking license.Southeast Asia’s digital lending market is expected to more than quadruple to $110 billion by 2025, according to a report by Bain & Co., Google and Temasek Holdings Pte.The two main operating divisions of Sea, which counts Tencent as its largest outside shareholder, are Shopee, a popular online shopping platform in Southeast Asia and Taiwan, and gaming arm Garena. Shopee’s users include SME and millennial consumers. Sea also has a digital financial services arm, SeaMoney.“Through Garena, Shopee, and SeaMoney, we have unrivaled insight into the needs and wants of millennials and SMEs across the region,” said Forrest Li, Sea’s chief executive officer. “We have also developed exceptional capabilities in addressing these unmet needs, and have the technology, infrastructure, data analytics capabilities, and management experience to design and scale Singapore’s first full digital bank.”The full digital banks will require total capital of S$1.5 billion ($1.1 billion) and must be controlled by Singaporeans. They will be allowed to provide a range of financial services as well as take deposits from retail customers. The MAS plans to award as many as two such permits.Earlier this month, gaming company Razer Inc. said it had teamed up with homegrown Singaporean entrepreneurs and Asian billionaires to apply for a full banking license. The Razer-led group also targets younger users. Other bidders include the Grab Holdings Inc.-Singapore Telecommunications Ltd. group and Beyond Consortium, which is led by one of Asia’s largest massage chair makers, V3 Group Ltd. and stored-value card company EZ-Link Pte.One of Sea’s key advantages over the other known applicants is its potential to tap its sizable user base across gaming and e-commerce to become customers of its digital bank, said Vey-Sern Ling, a senior analyst at Bloomberg Intelligence.“These are young, generally tech savvy, and many have established paying-relationships with Sea,” Ling said. “Shopee’s leading position in regional e-commerce will likewise provide multiple business cases for Sea’s digital bank.”In 2019, Sea went on to outperform all other major Asian internet stocks with a gain of 255%, its best year since going public in New York in 2017. Investors are optimistic about the company’s revenue outlook. Sea’s stock closed at an all-time high of $40.49 on Friday.(Updates with an analyst comment and a stock chart from ninth paragraph.)\--With assistance from Chanyaporn Chanjaroen.To contact the reporter on this story: Yoolim Lee in Singapore at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum Murphy, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Sea Limited (NYSE: SE) ("Sea" or the "Company"), Southeast Asia’s leading consumer internet company, today announced that it has applied for a digital full bank license in Singapore.
It has been a fantastic year for equity investors as Donald Trump pressured Federal Reserve to reduce interest rates and finalized the first leg of a trade deal with China. If you were a passive index fund investor, you had seen gains of 31% in your equity portfolio in 2019. However, if you were an […]
Universal Display and JD.com are showing impressive relative strength in the current market rally. Splunk, Inphi and Sea also are near buy points.
The IBD Stock Of The Day is Sea Ltd., a provider of e-commerce and digital entertainment services in Southeast Asia. Sea stock hovers in a buy range and has triple-digit revenue growth.
(Bloomberg) -- Alpha JWC Ventures, an Indonesian firm co-founded by a former banker turned venture capitalist, has closed its second fund at $123 million.This is a record for an Indonesia-focused early-stage venture capital fund, underscoring growing investor interest in fostering a new generation of startups in a country that gave birth to internet giants like Gojek and Tokopedia.The Jakarta-based VC firm launched its debut, $50 million fund in 2016, which backed 23 early-stage startups mostly in Indonesia. They include automotive online marketplace Carro, peer-to-peer lending company Funding Societies, and Kredivo, a digital lending platform in Indonesia. Net asset value of that fund has increased 3.2 times, according to the company.Through its second fund, Alpha JWC has already backed 14 startups, including Kopi Kenangan, a popular grab-and-go coffee chain in Indonesia.“We are on the ground and get the earliest information about deals,” said Chandra Tjan, managing partner of Alpha JWC who co-founded the firm with partners Jefrey Joe and Will Ongkowidjaja. “The digital landscape and trends in Indonesia have changed in the past year, and we have to be more active yet cautious.”Daniel Lin, chief executive officer of FundedHere Pte, a crowd-funding platform that introduces entrepreneurs to investors, said that while the earliest VCs have invested in Indonesia since 2010, it’s only been recently that startups in the country have begun to adopt technology in a significant way to reach a wider audience. “Including Indonesian startups at the seed and Series A stages will be critical to the success of the startup portfolio,” said Lin.Prior to starting the company, former Credit Suisse and Citigroup Inc. banker Tjan had co-founded and served as managing partner of East Ventures, which has become the most active VC firm in Indonesia. In 2019, East Ventures closed its sixth fund at $75 million and launched a $200 million growth fund together with Indonesian conglomerate Sinar Mas and an arm of Yahoo Japan Corp.This year, Alpha JWC has bolstered its team by promoting Erika Dianasari to a partner from principal and added two new partners: Alan Hellawell, former chief strategy officer of Sea Ltd., and Eko Kurniadi, former vice president of investment at private equity firm Creador. Ongkowidjaja has stepped down as managing partner to start his own company, Honestbank, though he will remain as a founding partner of Alpha JWC, according to Tjan.To contact the reporter on this story: Yoolim Lee in Singapore at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Indonesian e-commerce industry executives have criticised new regulations requiring online vendors to obtain government permits, saying the mandatory procedures would sharply increase costs and stifle the country's booming e-commerce market. The law also requires online marketplaces to store information in local data centers and for domain names to reflect Indonesia. Trade minister Agus Suparmanto told reporters on Monday that the regulation is intended to protect consumers and businesses, and promised that "everything will be made easier", as the procedures to comply with the law can be done online and will be free.