Sina Corp. (SINA) Sets New 12-Month High at $85.24
Sina Corp. (NASDAQ:SINA) hit a new 52-week high during trading on Tuesday . The company traded as high as $85.24 and last traded at $83.50, with a volume of 2,154,147 shares changing hands. The stock had previously closed at $81.88.
A number of equities research analysts have recently commented on the company. Brean Capital increased their price objective on Sina Corp. from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Zacks Investment Research downgraded Sina Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Citigroup assumed coverage on Sina Corp. in a research report on Friday, August 5th. They set a “buy” rating and a $69.00 price objective for the company. Finally, Jefferies Group upgraded Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company 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 an average target price of $57.03.
The company has a market cap of $5.90 billion and a price-to-earnings ratio of 68.25. The firm has a 50-day moving average price of $63.84 and a 200-day moving average price of $52.59.
Sina Corp. (NASDAQ:SINA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The company earned $244 million during the quarter, compared to analyst estimates of $231.09 million. During the same period in the prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, 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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