Sina Corporation’s (NASDAQ:SINA) “Buy” Rating Reiterated at Jefferies Group LLC
Sina Corporation (NASDAQ:SINA)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a research note issued on Friday.
SINA has been the subject of several other reports. BidaskClub cut Sina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Citigroup Inc. boosted their target price on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research report on Thursday. 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 research report on Friday, May 12th. Stifel Nicolaus restated a “hold” rating and set a $92.00 target price (up from $74.00) on shares of Sina Corporation in a research report on Wednesday, May 17th. Finally, Benchmark Co. assumed coverage on Sina Corporation in a research report on Tuesday, April 18th. They set a “buy” rating and a $110.00 target price for the company. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sina Corporation presently has a consensus rating of “Buy” and a consensus target price of $101.74.
Sina Corporation (NASDAQ SINA) traded up 0.94% during mid-day trading on Friday, reaching $95.29. The company had a trading volume of 1,411,097 shares. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $105.99. The stock has a market capitalization of $6.78 billion, a P/E ratio of 31.20 and a beta of 1.24. The stock has a 50 day moving average price of $91.83 and a 200-day moving average price of $81.82.
Sina Corporation (NASDAQ:SINA) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Sina Corporation had a return on equity of 6.65% and a net margin of 18.64%. The business had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was up 47.1% on a year-over-year basis. Equities analysts anticipate that Sina Corporation will post $2.78 EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. purchased a new position in Sina Corporation during the fourth quarter worth about $5,751,000. Teachers Advisors LLC purchased a new position in Sina Corporation during the fourth quarter worth about $1,371,000. Navellier & Associates Inc boosted its position in Sina Corporation by 94.5% in the first quarter. Navellier & Associates Inc now owns 13,259 shares of the technology company’s stock worth $956,000 after buying an additional 6,442 shares during the last quarter. Korea Investment CORP boosted its position in Sina Corporation by 26.6% in the first quarter. Korea Investment CORP now owns 61,400 shares of the technology company’s stock worth $4,428,000 after buying an additional 12,900 shares during the last quarter. Finally, Shell Asset Management Co. boosted its position in Sina Corporation by 16.3% in the first quarter. Shell Asset Management Co. now owns 32,051 shares of the technology company’s stock worth $2,312,000 after buying an additional 4,490 shares during the last quarter. Hedge funds and other institutional investors own 66.43% of the company’s stock.
About Sina Corporation
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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