Sina Corp. (SINA) Shares Up 3.7%
Shares of Sina Corp. (NASDAQ:SINA) shot up 3.7% during mid-day trading on Friday . The stock traded as high as $73.98 and last traded at $73.94, with a volume of 683,861 shares. The stock had previously closed at $71.32.
Several research firms recently issued reports on SINA. TheStreet raised Sina Corp. to a “buy” rating in a research note on Friday, August 19th. Brean Capital reissued a “buy” rating on shares of Sina Corp. in a research note on Tuesday, August 16th. Citigroup Inc. began coverage on Sina Corp. in a research note on Friday, August 5th. They issued a “buy” rating and a $69.00 target price on the stock. Jefferies Group raised Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Friday, July 22nd. Finally, Zacks Investment Research cut Sina Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sina Corp. has a consensus rating of “Buy” and a consensus price target of $56.69.
The firm has a market capitalization of $5.14 billion and a PE ratio of 59.47. The stock’s 50-day moving average is $59.91 and its 200-day moving average is $51.14.
Sina Corp. (NASDAQ:SINA) last announced its earnings results on Monday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $244 million for the quarter, compared to analysts’ expectations of $231.09 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts predict that Sina Corp. will post $1.08 EPS for the current fiscal 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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