Sina Corporation (SINA) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Sina Corporation (NASDAQ:SINA) have earned an average rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $109.60.
SINA has been the subject of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $122.00 price objective on shares of Sina Corporation in a research report on Friday, July 14th. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. BidaskClub lowered Sina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Bank of America Corporation restated a “buy” rating and set a $119.00 price objective (up from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th. Finally, Citigroup Inc. raised their price objective on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th.
A number of hedge funds and other institutional investors have recently modified their holdings of SINA. Navellier & Associates Inc increased its position in shares of Sina Corporation by 2.2% during the second quarter. Navellier & Associates Inc now owns 13,554 shares of the technology company’s stock valued at $1,152,000 after purchasing an additional 295 shares during the period. Koch Industries Inc. bought a new stake in shares of Sina Corporation during the second quarter valued at approximately $1,385,000. 1st Global Advisors Inc. bought a new stake in shares of Sina Corporation during the second quarter valued at approximately $443,000. Verition Fund Management LLC bought a new stake in shares of Sina Corporation during the second quarter valued at approximately $205,000. Finally, Nomura Holdings Inc. increased its position in shares of Sina Corporation by 28.1% during the second quarter. Nomura Holdings Inc. now owns 5,781 shares of the technology company’s stock valued at $491,000 after purchasing an additional 1,267 shares during the period. 67.01% of the stock is currently owned by institutional investors.
Sina Corporation (SINA) traded down 0.93% on Friday, hitting $116.33. 2,928,781 shares of the stock were exchanged. The company has a market cap of $8.28 billion, a PE ratio of 38.09 and a beta of 1.18. Sina Corporation has a 52 week low of $60.46 and a 52 week high of $118.85. The company’s 50-day moving average is $102.40 and its 200-day moving average is $87.36.
Sina Corporation (NASDAQ:SINA) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. Sina Corporation had a return on equity of 6.58% and a net margin of 18.64%. The firm had revenue of $358.93 million during the quarter, compared to analyst estimates of $344.23 million. During the same period last year, the company posted $0.27 EPS. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, analysts predict that Sina Corporation will post $2.92 earnings per share for the current year.
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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