Sina Corp. (SINA) Sees Large Volume Increase
Sina Corp. (NASDAQ:SINA) shares saw strong trading volume on Monday . 3,411,600 shares traded hands during trading, an increase of 101% from the previous session’s volume of 1,697,144 shares.The stock last traded at $81.88 and had previously closed at $78.75.
A number of research firms have commented on SINA. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Sina Corp. in a report on Wednesday, August 31st. Jefferies Group reissued a “buy” rating and issued a $67.00 target price on shares of Sina Corp. in a report on Monday, August 29th. Brean Capital reissued a “buy” rating on shares of Sina Corp. in a report on Tuesday, August 16th. TheStreet raised Sina Corp. to a “buy” rating in a report on Friday, August 19th. Finally, Citigroup Inc. began coverage on Sina Corp. in a report on Friday, August 5th. They issued a “buy” rating and a $69.00 target price for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.03.
The company has a market capitalization of $5.74 billion and a PE ratio of 66.30. The company 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 data on Monday, August 8th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company had revenue of $244 million for the quarter, compared to the consensus estimate of $231.09 million. Sina Corp.’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities analysts expect 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 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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