The analysts think Sea’s gross merchandise value (GMV) should show strong y-o-y growth momentum in the quarter to US$22.8 billion, helped by the lower base effect in 1HFY2023 and earlier timing of Ramadhan in 2024.
Analysts at CGS International are keeping “add” on Sea with a higher target price of US$76 ($103.43) from US$74 previously, ahead of the company’s 1QFY2024 ended March results which will be reported in mid-May.
In their April 24 report, analysts Ong Khang Chuen and Kenneth Tan expect a positive set of results overall. Most notably, Sea’s e-commerce arm Shopee is expected to significantly narrow its segment ebitda loss by 57% q-o-q to US$96 million in 1QFY2024.
