SINA Corp Trading 4.3% Higher on Earnings Beat (SINA)
SINA Corp (NASDAQ:SINA)’s share price traded up 4.3% during trading on Friday following a better than expected earnings announcement, Stock Ratings News reports. The company traded as high as $51.50 and last traded at $49.88, with a volume of 5,134,490 shares. The stock had previously closed at $47.82.
The company reported $0.17 earnings per share for the quarter, beating the analysts’ 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.
Several analysts have recently commented on the stock. Analysts at Brean Capital raised their price target on shares of SINA Corp from $65.00 to $67.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray raised their price target on shares of SINA Corp from $65.00 to $70.00 in a research note on Friday. They now have an “overweight” rating on the stock. Finally, analysts at T.H. Capital downgraded shares of SINA Corp to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. SINA Corp has an average rating of “Buy” and an average target price of $75.01.
The stock has a 50-day moving average of $48.15 and a 200-day moving average of $54.83. The company has a market cap of $3.311 billion and a P/E ratio of 138.21. SINA Corp also was the recipient of some unusual options trading activity on Thursday. Traders bought 19,771 call options on the company. This represents an increase of 279% compared to the typical daily volume of 5,218 call options.
SINA Corporation (NASDAQ:SINA), incorporated on July 9, 1997, is an online media company serving China and the global Chinese communities.
Receive News & Ratings for SINA Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SINA Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.