J.P. Morgan lowered its Sea Ltd. price target to $163 from $168. Barclays raised its target to $122 from $120. Both firms maintained an "Overweight" rating.
Sea reported first-quarter GAAP revenue of $7.1 billion. This represents a 46.6% year-over-year increase.
Gross profit reached $3.1 billion. This marks a 40.7% improvement.
Adjusted EBITDA for the quarter totaled $1 billion. This reflects a 9.3% increase from the prior year.
The company repurchased 1.8 million shares during the first quarter. These transactions totaled approximately $168.4 million.