SINA (SINA) Price Target Raised to $179.00 at JPMorgan Chase & Co.

SINA (NASDAQ:SINA) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $175.00 to $179.00 in a research note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 52.28% from the stock’s previous close.

A number of other research firms have also weighed in on SINA. Zacks Investment Research upgraded shares of SINA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Jefferies Group restated a “buy” rating and set a $175.00 target price on shares of SINA in a research note on Wednesday, January 24th. Benchmark upped their target price on shares of SINA from $157.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BidaskClub lowered shares of SINA from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. SINA has an average rating of “Buy” and an average target price of $139.00.

SINA (NASDAQ:SINA) traded up $5.30 during mid-day trading on Thursday, hitting $117.55. 1,638,700 shares of the company were exchanged, compared to its average volume of 964,108. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.68 and a quick ratio of 2.68. SINA has a 12-month low of $68.13 and a 12-month high of $122.93. The stock has a market capitalization of $8,027.52, a price-to-earnings ratio of 56.24 and a beta of 1.03.

SINA (NASDAQ:SINA) last released its earnings results on Tuesday, February 13th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.29. SINA had a net margin of 9.89% and a return on equity of 4.09%. The firm had revenue of $503.70 million for the quarter, compared to analyst estimates of $482.59 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 62.1% compared to the same quarter last year. sell-side analysts forecast that SINA will post 3.34 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Platinum Investment Management Ltd. increased its stake in SINA by 16.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 3,365,882 shares of the technology company’s stock valued at $337,631,000 after purchasing an additional 466,731 shares during the last quarter. Alkeon Capital Management LLC increased its stake in SINA by 29.3% in the third quarter. Alkeon Capital Management LLC now owns 2,706,876 shares of the technology company’s stock valued at $310,343,000 after purchasing an additional 614,000 shares during the last quarter. BlackRock Inc. increased its stake in SINA by 9.3% in the fourth quarter. BlackRock Inc. now owns 2,673,227 shares of the technology company’s stock valued at $268,152,000 after purchasing an additional 226,476 shares during the last quarter. Wells Fargo & Company MN increased its stake in SINA by 0.4% in the third quarter. Wells Fargo & Company MN now owns 2,334,225 shares of the technology company’s stock valued at $267,620,000 after purchasing an additional 8,384 shares during the last quarter. Finally, Greenwoods Asset Management Ltd increased its stake in SINA by 2.6% in the third quarter. Greenwoods Asset Management Ltd now owns 1,411,158 shares of the technology company’s stock valued at $161,789,000 after purchasing an additional 36,000 shares during the last quarter. Institutional investors own 68.61% of the company’s stock.

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SINA 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.

Analyst Recommendations for SINA (NASDAQ:SINA)

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