Sina Corporation (SINA) Upgraded to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Sina Corporation (NASDAQ:SINA) from a buy rating to a strong-buy rating in a research note released on Friday.
A number of other equities research analysts also recently issued reports on the company. T.H. Capital upped their price objective on Sina Corporation from $62.00 to $94.00 and gave the company a buy rating in a research report on Friday, May 12th. Benchmark Co. started coverage on Sina Corporation in a research report on Tuesday, April 18th. They set a buy rating and a $110.00 price objective on the stock. Jefferies Group LLC restated a buy rating and set a $122.00 price objective on shares of Sina Corporation in a research report on Wednesday, May 17th. Finally, Stifel Nicolaus restated a hold rating and set a $92.00 price objective (up from $74.00) on shares of Sina Corporation in a research report on Wednesday, May 17th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $93.81.
Sina Corporation (SINA) traded up 3.88% during trading on Friday, reaching $99.85. The company had a trading volume of 1,309,793 shares. The firm’s 50 day moving average is $89.68 and its 200 day moving average is $80.41. Sina Corporation has a one year low of $55.75 and a one year high of $105.99. The company has a market capitalization of $7.09 billion, a PE ratio of 30.50 and a beta of 1.24.
Sina Corporation (NASDAQ:SINA) last issued its quarterly earnings data on Tuesday, May 16th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.78. Sina Corporation had a return on equity of 6.19% and a net margin of 22.36%. The business had revenue of $278.10 million for the quarter, compared to the consensus estimate of $267.14 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. On average, equities research analysts predict that Sina Corporation will post $2.71 earnings per share for the current year.
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Several large investors have recently modified their holdings of SINA. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Sina Corporation during the first quarter valued at $228,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sina Corporation during the first quarter valued at $795,000. First Trust Advisors LP increased its stake in shares of Sina Corporation by 40.5% in the first quarter. First Trust Advisors LP now owns 53,655 shares of the technology company’s stock valued at $3,870,000 after buying an additional 15,463 shares during the last quarter. Eqis Capital Management Inc. increased its stake in shares of Sina Corporation by 62.6% in the first quarter. Eqis Capital Management Inc. now owns 8,893 shares of the technology company’s stock valued at $641,000 after buying an additional 3,425 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in shares of Sina Corporation by 43.0% in the first quarter. APG Asset Management N.V. now owns 27,600 shares of the technology company’s stock valued at $1,991,000 after buying an additional 8,300 shares during the last quarter. Hedge funds and other institutional investors own 66.43% of the company’s stock.
Sina Corporation Company Profile
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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