Sea Limited (NYSE:SE) reported better-than-expected sales results for its fourth quarter on Monday.

Sea posted a quarterly loss of 19 cents per share, versus a year-ago profit of 72 cents per share. The company’s quarterly sales came in at $3.62 billion, topping market estimates of $3.53 billion, according to data from Benzinga Pro.

Quarterly active users were 528.7 million, compared to 544.1 million in the prior quarter. Average bookings per user were $0.86, which increased 4.8% quarter-on-quarter. Core marketplace revenue grew 40.6% Y/Y. Gross orders rose 46.0% Y/Y and 13.4% quarter-on-quarter.

Sea expects Shopee’s full-year GMV growth to be in the high teens range and its adjusted EBITDA to turn positive in the second half of this year.

Sea shares gained 5.6% to close at $53.90 on Monday.

These analysts made changes to their price targets on Sea after the company reported quarterly results.

• Bernstein raised the price target on Sea from $50 to $60. Bernstein analyst Venugopal Garre maintained an Outperform rating.
• JP Morgan boosted the price target on Sea from $43 to $70. JP Morgan analyst Ranjan Sharma upgraded the stock from Neutral to Overweight.

Check This Out: Stitch Fix, Target And 3 Stocks To Watch Heading Into Tuesday