Sina Corp. (NASDAQ:SINA) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $72.88 and last traded at $71.74, with a volume of 707,536 shares. The stock had previously closed at $70.75.

SINA has been the subject of several recent research reports. Zacks Investment Research raised shares of Sina Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Tuesday, June 28th. Brean Capital restated a “buy” rating on shares of Sina Corp. in a research report on Tuesday, June 7th. Citigroup Inc. initiated coverage on shares of Sina Corp. in a research report on Friday, August 5th. They set a “buy” rating and a $69.00 price target on the stock. Finally, Jefferies Group upgraded shares of Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Friday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $56.69.

The stock’s 50 day moving average is $58.79 and its 200 day moving average is $50.85. The company has a market cap of $5.03 billion and a price-to-earnings ratio of 58.09.

Sina Corp. (NASDAQ:SINA) last released its quarterly earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.15 by $0.12. The business earned $244 million during the quarter, compared to analysts’ expectations of $231.09 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts forecast that Sina Corp. will post $1.08 EPS 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 (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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