个人中心 - 老虎社区

Meowchan

IP属地：未知

帖子 · 3帖子 · 3
关注 · 0关注 · 0
粉丝 · 0粉丝 · 0

- MeowchanMeowchan
  ·2021-04-05
  I love roblox
  Roblox Climbed 5% as Analysts Initiate Coverage With Buy Ratings
  Roblox was rising Monday after several analysts initiated coverage of the video game platform with p
  Roblox Climbed 5% as Analysts Initiate Coverage With Buy Ratings
  247 评论
  1
  分享
  举报
- MeowchanMeowchan
  ·2021-04-05
  TTTIN
  非常抱歉，此主贴已删除
  270 评论
  3
  分享
  举报
- MeowchanMeowchan
  ·2021-03-18
  1
  Sea Limited Is A Stock To Watch: High Risk, High Return
  Summary Sea Ltd is a potentially high-rewarding long-term investment. The company is involved in th
  Sea Limited Is A Stock To Watch: High Risk, High Return
  239 评论
  6
  分享
  举报

热议股票

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

老虎社区侵权投诉指引

中国互联网举报中心·北京互联网举报中心

网络谣言曝光台·扫黄打非举报中心

网络110报警服务

© 2018-2024 老虎社区版权所有

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

qrcode

关注我们

{"i18n":{"language":"zh_CN"},"isCurrentUser":false,"userPageInfo":{"id":"3574676876089552","uuid":"3574676876089552","gmtCreate":1613048755484,"gmtModify":1615477572281,"name":"Meowchan","pinyin":"meowchan","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/91031f826c044e111809023f69343489","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":3,"tweetSize":3,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":1,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.07.01","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"60.64%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":5,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":349719516,"gmtCreate":1617637551735,"gmtModify":1634297379820,"author":{"id":"3574676876089552","authorId":"3574676876089552","name":"Meowchan","avatar":"https://static.tigerbbs.com/91031f826c044e111809023f69343489","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574676876089552","authorIdStr":"3574676876089552"},"themes":[],"htmlText":"I love roblox","listText":"I love roblox","text":"I love roblox","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/349719516","repostId":"1178830231","repostType":4,"repost":{"id":"1178830231","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1617634979,"share":"https://www.laohu8.com/m/news/1178830231?lang=&edition=full","pubTime":"2021-04-05 23:02","market":"us","language":"en","title":"Roblox Climbed 5% as Analysts Initiate Coverage With Buy Ratings","url":"https://stock-news.laohu8.com/highlight/detail?id=1178830231","media":"Tiger Newspress","summary":"Roblox was rising Monday after several analysts initiated coverage of the video game platform with p","content":"<p>Roblox&nbsp;was rising Monday after several analysts initiated coverage of the&nbsp;video game platform with positive ratings a month after the company went public.</p><p>Shares of Roblox was&nbsp;climbing 4.9% to $70.64 in Monday morning trading.</p><p><img src=\"https://static.tigerbbs.com/2a8680408b68d8acf9876ff4a2df65f1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Bank of America analyst Ryan Gee initiated coverage of the company with a buy rating and a $70 price target.</p><p>\"RBLX offers exposure to the massive mobile TAM (Total Addressable Market) with less-relative capital risk than what we associate with traditional content creators,\" Gee said in a research note. \"The blend of social networking, AAA gaming, and design software characteristics is unique on mobile and RBLX stands apart from gaming peers with the scalable economics of traditional online marketplaces.\"</p><p>AAA&nbsp;is an informal classification used for video games&nbsp;produced and distributed by a mid-sized&nbsp;or major publisher, usually having higher development and marketing budgets.</p><p>Roblox, Gee said \"combines the communication utility of social networks with the monetization/engagement of AAA gaming and has democratized content creation such that any user is a creator.\"</p><p>Goldman Sachs analyst Michael Ng kicked off coverage of Roblox with a buy rating and a price target of $81 per share.</p><p>Ng said that \"the creation and monetization of user-generated content effectively allows RBLX to outsource game development costs to its creators while retaining the economic upside with a diversified portfolio of content, reducing hit-risk.\"</p><p>Morgan Stanley analyst Brian Nowak initiated coverage of Roblox with an overweight rating and and $80 price target.</p><p>\"We believe RBLX is still in the early innings of its user opportunity, as its 33 [million] '20 daily active users (DAUs) represent just 6% penetration of ~500 [million] 5-24 year olds in its current countries,\" the analyst said.</p><p>Nowak said that industry leading engagement speaks to how the company is \"blurring the lines between social and gaming.\"</p><p>Truist analyst Matthew Thornton initiated coverage of the company with a buy rating and a $78 price target, saying he believes that Roblox&nbsp;\"has a strong and defensible position on account of substantial investment in safety and two mutually reinforcing network effects (social and content).\"</p><p>Roblox&nbsp;made its&nbsp;stock market debut&nbsp;last month at $64.50 a share, above the reference price of $45 set by the New York Stock Exchange.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Roblox Climbed 5% as Analysts Initiate Coverage With Buy Ratings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRoblox Climbed 5% as Analysts Initiate Coverage With Buy Ratings\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-05 23:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Roblox&nbsp;was rising Monday after several analysts initiated coverage of the&nbsp;video game platform with positive ratings a month after the company went public.</p><p>Shares of Roblox was&nbsp;climbing 4.9% to $70.64 in Monday morning trading.</p><p><img src=\"https://static.tigerbbs.com/2a8680408b68d8acf9876ff4a2df65f1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Bank of America analyst Ryan Gee initiated coverage of the company with a buy rating and a $70 price target.</p><p>\"RBLX offers exposure to the massive mobile TAM (Total Addressable Market) with less-relative capital risk than what we associate with traditional content creators,\" Gee said in a research note. \"The blend of social networking, AAA gaming, and design software characteristics is unique on mobile and RBLX stands apart from gaming peers with the scalable economics of traditional online marketplaces.\"</p><p>AAA&nbsp;is an informal classification used for video games&nbsp;produced and distributed by a mid-sized&nbsp;or major publisher, usually having higher development and marketing budgets.</p><p>Roblox, Gee said \"combines the communication utility of social networks with the monetization/engagement of AAA gaming and has democratized content creation such that any user is a creator.\"</p><p>Goldman Sachs analyst Michael Ng kicked off coverage of Roblox with a buy rating and a price target of $81 per share.</p><p>Ng said that \"the creation and monetization of user-generated content effectively allows RBLX to outsource game development costs to its creators while retaining the economic upside with a diversified portfolio of content, reducing hit-risk.\"</p><p>Morgan Stanley analyst Brian Nowak initiated coverage of Roblox with an overweight rating and and $80 price target.</p><p>\"We believe RBLX is still in the early innings of its user opportunity, as its 33 [million] '20 daily active users (DAUs) represent just 6% penetration of ~500 [million] 5-24 year olds in its current countries,\" the analyst said.</p><p>Nowak said that industry leading engagement speaks to how the company is \"blurring the lines between social and gaming.\"</p><p>Truist analyst Matthew Thornton initiated coverage of the company with a buy rating and a $78 price target, saying he believes that Roblox&nbsp;\"has a strong and defensible position on account of substantial investment in safety and two mutually reinforcing network effects (social and content).\"</p><p>Roblox&nbsp;made its&nbsp;stock market debut&nbsp;last month at $64.50 a share, above the reference price of $45 set by the New York Stock Exchange.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RBLX":"Roblox Corporation"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178830231","content_text":"Roblox was rising Monday after several analysts initiated coverage of the video game platform with positive ratings a month after the company went public.Shares of Roblox was climbing 4.9% to $70.64 in Monday morning trading.Bank of America analyst Ryan Gee initiated coverage of the company with a buy rating and a $70 price target.\"RBLX offers exposure to the massive mobile TAM (Total Addressable Market) with less-relative capital risk than what we associate with traditional content creators,\" Gee said in a research note. \"The blend of social networking, AAA gaming, and design software characteristics is unique on mobile and RBLX stands apart from gaming peers with the scalable economics of traditional online marketplaces.\"AAA is an informal classification used for video games produced and distributed by a mid-sized or major publisher, usually having higher development and marketing budgets.Roblox, Gee said \"combines the communication utility of social networks with the monetization/engagement of AAA gaming and has democratized content creation such that any user is a creator.\"Goldman Sachs analyst Michael Ng kicked off coverage of Roblox with a buy rating and a price target of $81 per share.Ng said that \"the creation and monetization of user-generated content effectively allows RBLX to outsource game development costs to its creators while retaining the economic upside with a diversified portfolio of content, reducing hit-risk.\"Morgan Stanley analyst Brian Nowak initiated coverage of Roblox with an overweight rating and and $80 price target.\"We believe RBLX is still in the early innings of its user opportunity, as its 33 [million] '20 daily active users (DAUs) represent just 6% penetration of ~500 [million] 5-24 year olds in its current countries,\" the analyst said.Nowak said that industry leading engagement speaks to how the company is \"blurring the lines between social and gaming.\"Truist analyst Matthew Thornton initiated coverage of the company with a buy rating and a $78 price target, saying he believes that Roblox \"has a strong and defensible position on account of substantial investment in safety and two mutually reinforcing network effects (social and content).\"Roblox made its stock market debut last month at $64.50 a share, above the reference price of $45 set by the New York Stock Exchange.","news_type":1},"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349710830,"gmtCreate":1617637481320,"gmtModify":1634297380521,"author":{"id":"3574676876089552","authorId":"3574676876089552","name":"Meowchan","avatar":"https://static.tigerbbs.com/91031f826c044e111809023f69343489","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574676876089552","authorIdStr":"3574676876089552"},"themes":[],"htmlText":"TTTIN","listText":"TTTIN","text":"TTTIN","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/349710830","repostId":"1123709980","repostType":4,"isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327070586,"gmtCreate":1616043502045,"gmtModify":1703496805782,"author":{"id":"3574676876089552","authorId":"3574676876089552","name":"Meowchan","avatar":"https://static.tigerbbs.com/91031f826c044e111809023f69343489","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574676876089552","authorIdStr":"3574676876089552"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327070586","repostId":"1114091354","repostType":4,"repost":{"id":"1114091354","kind":"news","pubTimestamp":1616039884,"share":"https://www.laohu8.com/m/news/1114091354?lang=&edition=full","pubTime":"2021-03-18 11:58","market":"us","language":"en","title":"Sea Limited Is A Stock To Watch: High Risk, High Return","url":"https://stock-news.laohu8.com/highlight/detail?id=1114091354","media":"seekingalpha","summary":"Summary\n\nSea Ltd is a potentially high-rewarding long-term investment.\nThe company is involved in th","content":"<p><b>Summary</b></p>\n<ul>\n <li>Sea Ltd is a potentially high-rewarding long-term investment.</li>\n <li>The company is involved in three key areas of digital businesses (digital gaming, e-commerce and fintech), which have benefited immensely from the pandemic.</li>\n <li>Its future share price movement would depend on the company’s growth and operational expansion, the development of the company’s fintech/digital banking business segment, and potential risks from competitors.</li>\n</ul>\n<p><b>Investment thesis</b></p>\n<p>It is difficult to determine Sea’s(NYSE:SE)share price movement for the short run (early to mid-2021). Its share price has had a spectacular growth in 2020 (rising by about 400%), primarily because of the pandemic, which has benefited from the surge in demand for all its digital businesses. This accelerated growth is unlikely to be repeated in 2021. However, 2021 will continue to usher in strong growth because of increasing online demand in the region.</p>\n<p>Sea is a promising company and has the potential to become one of the largest companies in ASEAN because of its strong appetite for growth and expansion. It is already three times the size of Singapore Telecommunication corporation and twice that of PTT (Thai Petroleum) by enterprise value.</p>\n<p>Sea’s future share price movement would depend on further increases in revenue growth and new revenue streams. However, it has significant risks and challenges from competition. At the current share price, Sea is 34% over valued (see annex 1) and is trading at 27 times of sales (2.5 times the average of its competitors, see annex 2). However, Sea’s good growth prospects within the next 2 years justify its price.</p>\n<p>Sea’s three core businesses (gaming, e-commerce and financial services) have been growing rapidly (160% year-on-year by revenue). The revenue stream to watch in 2021 is its fintech arm (i.e. SeaMoney), which is currently contributing only one percent to Sea’s overall revenue. It has been awarded a banking licence by the Monetary Authority of Singapore in 2020 (1 of 2 awardees) and acquired Bank Kesejahteraan Ekonomi (in Indonesia) in January 2021. Its financial services business is well positioned for a prospective growth towards the end of 2021 and into 2022. SeaMoney on its own could potentially add an additional $15 per share to Sea’s overall share price by end of 2021 (based on fundamental discounted cash flow (DCF) valuation with ADYEN’s historical data as a comparator).</p>\n<p><b>Overview</b></p>\n<p>The bulk of Sea’s business is in Southeast Asia. It operates in three key busines segments, through Garena (digital gaming), Shopee (e-commerce), and SeaMoney (digital financial services). Despite its rapid regional expansion, it has not yet generated profit. This situation is normal for businesses such as Sea, which has been focusing on building market position and expansion. Sea benefited from the COVID-19 pandemic, which accelerated its growth due to the surge in demand for its digital businesses.</p>\n<p><b>Valuation of Sea Ltd</b></p>\n<p>Determining a value for Sea is difficult at this point in time as the future potential of SeaMoney has yet to take shape. However, a ten-year DCF projection based on the company’s past performance can be used to determine a minimum intrinsic share price value without the growth contribution of SeaMoney (see figure 1 and table 1). Based on the DCF valuation, a $155.99 share price can be considered a low estimate for Sea. It is unlikely that the share price will drop below this point, barring external shocks and significant regulatory changes to the business sectors that it serves.</p>\n<p>Figure 1: Sea Ltd: Revenues, net income and free cash flows (Millions of Dollars)</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a9f9a3ff141d8761555a1cb4ad168586\" tg-width=\"640\" tg-height=\"194\"><span>Source: Author’s calculation, with data from Sea Ltd.</span></p>\n<p>Table 1: Rates used in DCF valuation model</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/46e2934fedb8823d20be4440df7468c0\" tg-width=\"680\" tg-height=\"788\"><span>Source: Author’s calculation, with data from Sea Ltd.</span></p>\n<p><b>Growth drivers</b></p>\n<p>Sea operates in a large agreeable market (Southeast Asia). It is one of the largest and fastest growing regions in the world (4.9% per year in the four next years) with a population of 670 million people and a GDP of $4.7 trillion by 2025 (more than that of India). The region’s internet economy has more than tripled over the past four years, reaching $100 billion in 2019 and is expected to grow to $300 billion by 2025 (a 20% CAGR) according to the&nbsp;Google, Temasek and Bain, e-Conomy SEA 2020 annual report. Digital financial services are another promising market for the region as it is expected to grow to $1 trillion by 2025, accounting for half the money transactions conducted in Southeast Asia.</p>\n<p>Sea has multiple revenue streams, and the company has ample opportunities to explore new revenue streams and enhance synergistic advantages. Garena is already profitable and is an exclusive distributor of Tencent Games in Southeast Asia. It has been expanding in game development. This business segment is bank rolling Shopee and SeaMoney. The latter has the potential to contribute to Sea’s future growth. It is currently contributing only 1 percent of Sea’s revenue (see figure 1). It is not unreasonable to assume SeaMoney’s revenue could witness an exponential growth, if compared against the historical growth of Dutch fintech company, Adyen (also with a banking licence) (see figure 2).</p>\n<p><b>Figure 1: Sea Ltd revenue breakdown</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4514c7c949a9478fd1e1f2ad6e172603\" tg-width=\"603\" tg-height=\"321\"><span>Source: Author’s calculation, with data from Sea Ltd.</span></p>\n<p><b>Figure 2: SeaMoney vs. Adyen revenue</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6e6e7ed37e276589de723d7dffe1f16a\" tg-width=\"603\" tg-height=\"306\"><span>Source: Author’s calculation, with data from Sea Ltd and Adyen.</span></p>\n<p><b>Risks</b></p>\n<p>There are some risks to consider. They include the following:</p>\n<ol>\n <li><i>Existing competition (high impact):</i>Given the attractiveness of the markets that Sea participates in, there is fierce competition (especially in e-commerce and fintech) from other players such as Lazada, Grab, Gojek, Tokopedia and Bukalapak. This competitive pressure put into question Sea’s future growth and profits.</li>\n <li><i>New competition Gojek/Tokopedia merger (high impact):</i>In January 2021, Gojek and Grab merger talks fell apart. Currently, Gojek and Tokopedia are in the process to merge to form a $40 billion powerhouse and Grab is seeking IPO. The anticipated new entity (Gojek &amp; Tokopedia) will be a formidable competitor to Sea in Indonesia, given Gojek’s and Tokopedia’s extensive business networks in the region.</li>\n <li><i>Financial risk (moderate impact):</i>Sea has been increasing its debt leverage, at US$1.92 billion (September 2020) – an increase of US$470.6 million in a year. However, it also has US$3.55 billion in cash, leading to a US$1.63 billion net cash position. While Sea is losing money, it has generated positive free cash flow of US$96 million (September 2020) and therefore has limited short-term balance sheet risk.</li>\n <li><i>Sustainability (high impact):</i>Sea has not been profitable in the past five years and will not be until 2022. It has been using the profits from Garena (its only profitable business segment) to finance the expansion of its e-commerce and Fintech businesses.</li>\n <li><i>Over-valuation (moderate impact):</i>Sea is currently trading at a price-to-sales ratio of 27 times. This ratio is high as compared with Tencent Holdings at 11 times, Alibaba at 10 times and Meituan at 15 times. Although justifiable, this is a high premium to take on.</li>\n <li><i>Regulations (high impact):</i>Sea is subject to government regulations. Its financial services business is especially susceptible to regulatory changes. This can be further complicated by the number of countries it operates in. However, this is unlikely to be an issue in Singapore, Sea’s home country.</li>\n <li><i>Share dilution (moderate impact):</i>Sea has been constantly diluting its shares to support the financing of its various business expansions (see table 2).</li>\n</ol>\n<p>Table 2: Sea’s shares</p>\n<p><img src=\"https://static.tigerbbs.com/aab6b2ad5a564bfe638c9a6b93a0f458\" tg-width=\"815\" tg-height=\"396\"></p>\n<p><b>Conclusion</b></p>\n<p>Sea Ltd is a potentially high rewarding long-term investment but has a considerable amount of risk. However, the author believes that the company will overcome most of its challenge and strengthen its position as one of the dominant digital players in Southeast Asia. Investors should consider buying Sea as a long-term investment and with the strategy to buy the share when it dips in price and to slowly increase their position over time.</p>\n<p>Sea is one of the most exciting stories to watch. Key issues to follow closely are the company’s growth, SeaMoney development and rising challenges for competitors. Sea is defiantly a worthy pick for investors who are looking to diversify their portfolio with a good Southeast Asian stock.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited Is A Stock To Watch: High Risk, High Return</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited Is A Stock To Watch: High Risk, High Return\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-18 11:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4414622-sea-stock-high-risk-high-return><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nSea Ltd is a potentially high-rewarding long-term investment.\nThe company is involved in three key areas of digital businesses (digital gaming, e-commerce and fintech), which have benefited ...</p>\n\n<a href=\"https://seekingalpha.com/article/4414622-sea-stock-high-risk-high-return\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4414622-sea-stock-high-risk-high-return","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1114091354","content_text":"Summary\n\nSea Ltd is a potentially high-rewarding long-term investment.\nThe company is involved in three key areas of digital businesses (digital gaming, e-commerce and fintech), which have benefited immensely from the pandemic.\nIts future share price movement would depend on the company’s growth and operational expansion, the development of the company’s fintech/digital banking business segment, and potential risks from competitors.\n\nInvestment thesis\nIt is difficult to determine Sea’s(NYSE:SE)share price movement for the short run (early to mid-2021). Its share price has had a spectacular growth in 2020 (rising by about 400%), primarily because of the pandemic, which has benefited from the surge in demand for all its digital businesses. This accelerated growth is unlikely to be repeated in 2021. However, 2021 will continue to usher in strong growth because of increasing online demand in the region.\nSea is a promising company and has the potential to become one of the largest companies in ASEAN because of its strong appetite for growth and expansion. It is already three times the size of Singapore Telecommunication corporation and twice that of PTT (Thai Petroleum) by enterprise value.\nSea’s future share price movement would depend on further increases in revenue growth and new revenue streams. However, it has significant risks and challenges from competition. At the current share price, Sea is 34% over valued (see annex 1) and is trading at 27 times of sales (2.5 times the average of its competitors, see annex 2). However, Sea’s good growth prospects within the next 2 years justify its price.\nSea’s three core businesses (gaming, e-commerce and financial services) have been growing rapidly (160% year-on-year by revenue). The revenue stream to watch in 2021 is its fintech arm (i.e. SeaMoney), which is currently contributing only one percent to Sea’s overall revenue. It has been awarded a banking licence by the Monetary Authority of Singapore in 2020 (1 of 2 awardees) and acquired Bank Kesejahteraan Ekonomi (in Indonesia) in January 2021. Its financial services business is well positioned for a prospective growth towards the end of 2021 and into 2022. SeaMoney on its own could potentially add an additional $15 per share to Sea’s overall share price by end of 2021 (based on fundamental discounted cash flow (DCF) valuation with ADYEN’s historical data as a comparator).\nOverview\nThe bulk of Sea’s business is in Southeast Asia. It operates in three key busines segments, through Garena (digital gaming), Shopee (e-commerce), and SeaMoney (digital financial services). Despite its rapid regional expansion, it has not yet generated profit. This situation is normal for businesses such as Sea, which has been focusing on building market position and expansion. Sea benefited from the COVID-19 pandemic, which accelerated its growth due to the surge in demand for its digital businesses.\nValuation of Sea Ltd\nDetermining a value for Sea is difficult at this point in time as the future potential of SeaMoney has yet to take shape. However, a ten-year DCF projection based on the company’s past performance can be used to determine a minimum intrinsic share price value without the growth contribution of SeaMoney (see figure 1 and table 1). Based on the DCF valuation, a $155.99 share price can be considered a low estimate for Sea. It is unlikely that the share price will drop below this point, barring external shocks and significant regulatory changes to the business sectors that it serves.\nFigure 1: Sea Ltd: Revenues, net income and free cash flows (Millions of Dollars)\nSource: Author’s calculation, with data from Sea Ltd.\nTable 1: Rates used in DCF valuation model\nSource: Author’s calculation, with data from Sea Ltd.\nGrowth drivers\nSea operates in a large agreeable market (Southeast Asia). It is one of the largest and fastest growing regions in the world (4.9% per year in the four next years) with a population of 670 million people and a GDP of $4.7 trillion by 2025 (more than that of India). The region’s internet economy has more than tripled over the past four years, reaching $100 billion in 2019 and is expected to grow to $300 billion by 2025 (a 20% CAGR) according to the Google, Temasek and Bain, e-Conomy SEA 2020 annual report. Digital financial services are another promising market for the region as it is expected to grow to $1 trillion by 2025, accounting for half the money transactions conducted in Southeast Asia.\nSea has multiple revenue streams, and the company has ample opportunities to explore new revenue streams and enhance synergistic advantages. Garena is already profitable and is an exclusive distributor of Tencent Games in Southeast Asia. It has been expanding in game development. This business segment is bank rolling Shopee and SeaMoney. The latter has the potential to contribute to Sea’s future growth. It is currently contributing only 1 percent of Sea’s revenue (see figure 1). It is not unreasonable to assume SeaMoney’s revenue could witness an exponential growth, if compared against the historical growth of Dutch fintech company, Adyen (also with a banking licence) (see figure 2).\nFigure 1: Sea Ltd revenue breakdown\nSource: Author’s calculation, with data from Sea Ltd.\nFigure 2: SeaMoney vs. Adyen revenue\nSource: Author’s calculation, with data from Sea Ltd and Adyen.\nRisks\nThere are some risks to consider. They include the following:\n\nExisting competition (high impact):Given the attractiveness of the markets that Sea participates in, there is fierce competition (especially in e-commerce and fintech) from other players such as Lazada, Grab, Gojek, Tokopedia and Bukalapak. This competitive pressure put into question Sea’s future growth and profits.\nNew competition Gojek/Tokopedia merger (high impact):In January 2021, Gojek and Grab merger talks fell apart. Currently, Gojek and Tokopedia are in the process to merge to form a $40 billion powerhouse and Grab is seeking IPO. The anticipated new entity (Gojek & Tokopedia) will be a formidable competitor to Sea in Indonesia, given Gojek’s and Tokopedia’s extensive business networks in the region.\nFinancial risk (moderate impact):Sea has been increasing its debt leverage, at US$1.92 billion (September 2020) – an increase of US$470.6 million in a year. However, it also has US$3.55 billion in cash, leading to a US$1.63 billion net cash position. While Sea is losing money, it has generated positive free cash flow of US$96 million (September 2020) and therefore has limited short-term balance sheet risk.\nSustainability (high impact):Sea has not been profitable in the past five years and will not be until 2022. It has been using the profits from Garena (its only profitable business segment) to finance the expansion of its e-commerce and Fintech businesses.\nOver-valuation (moderate impact):Sea is currently trading at a price-to-sales ratio of 27 times. This ratio is high as compared with Tencent Holdings at 11 times, Alibaba at 10 times and Meituan at 15 times. Although justifiable, this is a high premium to take on.\nRegulations (high impact):Sea is subject to government regulations. Its financial services business is especially susceptible to regulatory changes. This can be further complicated by the number of countries it operates in. However, this is unlikely to be an issue in Singapore, Sea’s home country.\nShare dilution (moderate impact):Sea has been constantly diluting its shares to support the financing of its various business expansions (see table 2).\n\nTable 2: Sea’s shares\n\nConclusion\nSea Ltd is a potentially high rewarding long-term investment but has a considerable amount of risk. However, the author believes that the company will overcome most of its challenge and strengthen its position as one of the dominant digital players in Southeast Asia. Investors should consider buying Sea as a long-term investment and with the strategy to buy the share when it dips in price and to slowly increase their position over time.\nSea is one of the most exciting stories to watch. Key issues to follow closely are the company’s growth, SeaMoney development and rising challenges for competitors. Sea is defiantly a worthy pick for investors who are looking to diversify their portfolio with a good Southeast Asian stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}