Sina Corp. (SINA) Reaches New 52-Week High at $55.30
Sina Corp. (NASDAQ:SINA) hit a new 52-week high on Friday . The company traded as high as $55.30 and last traded at $55.25, with a volume of 664,603 shares. The stock had previously closed at $52.03.
A number of brokerages recently commented on SINA. Jefferies Group upgraded Sina Corp. from a “hold” rating to a “buy” rating in a research report on Friday. Brean Capital reiterated a “buy” rating on shares of Sina Corp. in a research report on Tuesday. Finally, Zacks Investment Research lowered Sina Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $50.83.
The firm has a market capitalization of $3.85 billion and a price-to-earnings ratio of 69.70. The firm has a 50-day moving average of $51.64 and a 200 day moving average of $48.02.
Sina Corp. (NASDAQ:SINA) last issued its earnings results on Wednesday, May 11th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $198.70 million for the quarter, compared to analyst estimates of $189.47 million. During the same period last year, the business posted $0.04 EPS. Sina Corp.’s revenue was up 7.6% on a year-over-year basis. On average, analysts anticipate that Sina Corp. will post $0.81 earnings per share for the current year.
A hedge fund recently raised its stake in Sina Corp. stock. First Trust Advisors LP increased its stake in shares of Sina Corp. (NASDAQ:SINA) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,426 shares of the company’s stock after buying an additional 1,352 shares during the period. First Trust Advisors LP owned 0.05% of Sina Corp. worth $1,552,000 at the end of the most recent quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.