Sina Corporation (NASDAQ:SINA) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.
Several other equities research analysts have also weighed in on the company. Jefferies Group LLC restated a “buy” rating and issued a $122.00 target price on shares of Sina Corporation in a report on Friday, July 14th. Stifel Nicolaus restated a “hold” rating on shares of Sina Corporation in a report on Friday, June 23rd. T.H. Capital boosted their target price on Sina Corporation from $62.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, May 12th. Finally, Benchmark Co. began coverage on Sina Corporation in a report on Tuesday, April 18th. They issued a “buy” rating and a $110.00 target price for the company. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Sina Corporation has an average rating of “Buy” and a consensus price target of $90.71.
Sina Corporation (NASDAQ:SINA) traded down 0.15% during mid-day trading on Friday, hitting $96.12. 1,053,786 shares of the stock were exchanged. The company has a 50 day moving average price of $89.68 and a 200 day moving average price of $80.41. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 29.36 and a beta of 1.24. Sina Corporation has a 52 week low of $54.05 and a 52 week high of $105.99.
Sina Corporation (NASDAQ:SINA) last posted its earnings results on Tuesday, May 16th. The technology company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.78. Sina Corporation had a return on equity of 6.19% and a net margin of 22.36%. The firm had revenue of $278.10 million during the quarter, compared to analyst estimates of $267.14 million. During the same period in the previous year, the company earned ($0.04) EPS. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. Analysts expect that Sina Corporation will post $2.72 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of Sina Corporation by 11.7% in the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock worth $123,000 after buying an additional 152 shares during the period. US Bancorp DE raised its position in shares of Sina Corporation by 55.1% in the second quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after buying an additional 533 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Sina Corporation by 11.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock worth $168,000 after buying an additional 230 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Sina Corporation during the first quarter worth approximately $216,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Sina Corporation during the first quarter worth approximately $228,000. Institutional investors own 66.07% of the company’s stock.
Sina Corporation Company Profile
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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