Sina Corp. (NASDAQ:SINA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $78.32 and last traded at $75.54, with a volume of 2,779,563 shares. The stock had previously closed at $75.48.

A number of brokerages have recently issued reports on SINA. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Sina Corp. in a research note on Wednesday. Jefferies Group reiterated a “buy” rating and set a $67.00 price objective on shares of Sina Corp. in a research note on Monday. TheStreet upgraded Sina Corp. to a “buy” rating in a research note on Friday, August 19th. Brean Capital reiterated a “buy” rating on shares of Sina Corp. in a research note on Tuesday, August 16th. Finally, Citigroup Inc. began coverage on Sina Corp. in a research note on Friday, August 5th. They set a “buy” rating and a $69.00 price objective on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.03.

The stock has a market cap of $5.29 billion and a PE ratio of 61.15. The company’s 50-day moving average price is $61.70 and its 200 day moving average price is $52.02.

Sina Corp. (NASDAQ:SINA) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.12. During the same period last year, the business posted $0.06 EPS. The firm earned $244 million during the quarter, compared to analyst estimates of $231.09 million. The company’s revenue was up 14.4% on a year-over-year basis. On average, equities research analysts predict that Sina Corp. will post $1.08 earnings per share 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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