Piper Jaffray Increases SINA Corp Price Target to $70.00 (SINA)
Analysts at Piper Jaffray raised their price target on shares of SINA Corp (NASDAQ:SINA) from $65.00 to $70.00 in a research report issued to clients and investors on Friday. The firm currently has an “overweight” rating on the stock. Piper Jaffray’s price objective would suggest a potential upside of 46.38% from the company’s current price.
SINA Corp (NASDAQ:SINA) opened at 47.82 on Friday. SINA Corp has a one year low of $42.40 and a one year high of $92.83. The stock’s 50-day moving average is $48.15 and its 200-day moving average is $54.83. The company has a market cap of $3.158 billion and a P/E ratio of 138.73. SINA Corp also was the target of some unusual options trading on Thursday. Stock investors acquired 19,771 call options on the company. This represents an increase of 279% compared to the average daily volume of 5,218 call options.
SINA Corp (NASDAQ:SINA) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.09. The company had revenue of $187.00 million for the quarter, compared to the consensus estimate of $180.03 million. Analysts expect that SINA Corp will post $0.81 EPS for the current fiscal year.
A number of other firms have also recently commented on SINA. Analysts at T.H. Capital downgraded shares of SINA Corp to a “hold” rating in a research note on Monday. Separately, analysts at TH Capital downgraded shares of SINA Corp from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $75.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of SINA Corp in a research note on Thursday, July 24th. They now have a $52.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.01.
SINA Corporation (NASDAQ:SINA), incorporated on July 9, 1997, is an online media company serving China and the global Chinese communities.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.