SINA Corp (SINA) Receives Consensus Rating of “Buy” from Brokerages
SINA Corp (NASDAQ:SINA) has been given a consensus rating of “Buy” by the eight brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $127.50.
Several equities analysts have recently issued reports on the company. BidaskClub raised SINA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Zacks Investment Research lowered SINA from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Benchmark lifted their price target on SINA from $142.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th.
Several institutional investors and hedge funds have recently bought and sold shares of SINA. Navellier & Associates Inc raised its position in SINA by 2.2% in the 2nd quarter. Navellier & Associates Inc now owns 13,554 shares of the technology company’s stock worth $1,152,000 after buying an additional 295 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in SINA by 10.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,500 shares of the technology company’s stock worth $631,000 after buying an additional 500 shares during the last quarter. AMP Capital Investors Ltd raised its position in SINA by 9.4% in the 3rd quarter. AMP Capital Investors Ltd now owns 9,300 shares of the technology company’s stock worth $1,066,000 after buying an additional 800 shares during the last quarter. Creative Planning raised its position in SINA by 39.6% in the 4th quarter. Creative Planning now owns 3,506 shares of the technology company’s stock worth $352,000 after buying an additional 995 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in SINA by 27.2% in the 2nd quarter. GSA Capital Partners LLP now owns 5,414 shares of the technology company’s stock worth $460,000 after buying an additional 1,157 shares during the last quarter. 69.40% of the stock is owned by hedge funds and other institutional investors.
SINA (NASDAQ:SINA) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.26. SINA had a net margin of 9.41% and a return on equity of 3.36%. The firm had revenue of $440.50 million for the quarter, compared to analysts’ expectations of $404.71 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was up 60.2% on a year-over-year basis. sell-side analysts forecast that SINA will post 2.13 earnings per share for the current year.
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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