Shares of Shopee parent company Sea Ltd ( SE ) rose in early trading on Wednesday, after the Singapore-based conglomerate reported upbeat second-quarter results on Tuesday.

Here are some key analyst takeaways.

Benchmark analyst Fawne Jiang reiterated a Buy rating, while raising the price target to $205.

Wedbush analyst Scott Devitt maintained an Outperform rating, while lifting the price target from $170 to $200.

Check out other analyst stock ratings.

Benchmark: Sea reported total GAAP revenues of $5.3 billion, up 38% year-on-year. It beat consensus expectations of $5 billion, Jiang said in a note. "The outperformance was broad-based across all segments," he wrote.

Shopee's GMV (gross merchandize value) accelerated to 25% year-on-year from 21% in the previous quarter. Revenue growth is up 34%, the analyst stated. Digital Financial Services generated 70% year-on-year revenue growth, "fueled by significant expansion in the loan book," he added.

Wedbush: Sea reported adjusted EBITDA of $829 million, topping consensus by $28 million, with margin of 15.8% in-line with Street estimates, Devitt said. The company's margins expanded by around 400 basis points (bps), he added.

Management expects Shopee GMV to grow about 25% year-on-year in the third quarter, ahead of expectations of 20%, which implies stronger GMV growth for the full year, the analyst stated. "The company has consistently improved upon its logistics capabilities to maintain its market leadership while delivering healthy margins," he further wrote.

SE Price Action: Shares of Seahad risen by 0.99% to $175.85 at the time of publication on Wednesday.

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