Sina Corporation (SINA) Receives Consensus Recommendation of “Buy” from Brokerages
Sina Corporation (NASDAQ:SINA) has earned an average recommendation of “Buy” from the ten research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $109.60.
A number of equities analysts have weighed in on the company. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Sina Corporation in a research report on Friday, August 11th. Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price target (up previously from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th. Citigroup Inc. upped their price target on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, BidaskClub raised shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th.
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Sina Corporation (NASDAQ:SINA) last issued its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share 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 business had revenue of $358.93 million during the quarter, compared to analyst estimates of $344.23 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Sina Corporation’s revenue was up 47.1% on a year-over-year basis. Analysts predict that Sina Corporation will post $2.92 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SINA. BlackRock Inc. increased its position in shares of Sina Corporation by 1,354.9% during the 1st quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock valued at $180,498,000 after purchasing an additional 2,702,176 shares during the last quarter. Koch Industries Inc. purchased a new stake in Sina Corporation in the 2nd quarter worth approximately $1,385,000. Platinum Investment Management Ltd. increased its holdings in Sina Corporation by 27.8% in the 1st quarter. Platinum Investment Management Ltd. now owns 2,912,881 shares of the technology company’s stock worth $210,076,000 after acquiring an additional 632,879 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Sina Corporation in the 2nd quarter worth approximately $52,605,000. Finally, Green Court Capital Management Ltd purchased a new stake in Sina Corporation in the 2nd quarter worth approximately $51,607,000. 66.91% of the stock is owned by hedge funds and other institutional investors.
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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