Sina Hits New 52-Week High at $86.80 (SINA)
Sina (NASDAQ:SINA)’s share price reached a new 52-week high on Wednesday, Analyst Ratings.Net reports. The company traded as high as $86.80 and last traded at $85.05, with a volume of 1,749,366 shares traded. The stock had previously closed at $84.56.
A number of research firms have recently commented on SINA. Analysts at JPMorgan Chase & Co. initiated coverage on shares of Sina (NASDAQ:SINA) in a research note to investors on Friday, August 30th. They set an “overweight” rating on the stock. Separately, analysts at Citigroup Inc. upgraded shares of Sina (NASDAQ:SINA) from a “sell” rating to a “buy” rating in a research note to investors on Wednesday, August 14th. They now have a $100.00 price target on the stock, up previously from $80.00. Finally, analysts at Oppenheimer raised their price target on shares of Sina (NASDAQ:SINA) from $70.00 to $90.00 in a research note to investors on Tuesday, August 13th. They now have an “outperform” rating on the stock.
Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Sina presently has a consensus rating of “Buy” and an average price target of $85.65.
Sina has a one year low of $41.14 and a one year high of $86.00. The stock has a 50-day moving average of $76.4 and a 200-day moving average of $59.66. The company’s market cap is $5.690 billion. Sina also was the target of unusually large options trading activity on Tuesday. Traders acquired 9,920 put options on the company. This is an increase of approximately 100% compared to the typical daily volume of 4,957 put options.
Sina (NASDAQ:SINA) last announced its earnings results on Monday, August 12th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.09. The company had revenue of $157.50 million for the quarter, compared to the consensus estimate of $145.18 million. During the same quarter last year, the company posted $0.05 earnings per share. Sina’s revenue was up 19.7% compared to the same quarter last year. Analysts expect that Sina will post $0.92 EPS for the current fiscal year.
SINA Corporation (NASDAQ:SINA) is an online media company serving China and the global Chinese communities.
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