Sina Corporation (NASDAQ:SINA) issued its quarterly earnings results on Wednesday. The technology company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27, MarketWatch Earnings reports. The firm had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. Sina Corporation had a net margin of 22.36% and a return on equity of 6.19%. Sina Corporation’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS.

Sina Corporation (NASDAQ:SINA) traded down 0.07% during mid-day trading on Wednesday, hitting $100.00. 2,986,934 shares of the stock traded hands. Sina Corporation has a 1-year low of $57.50 and a 1-year high of $105.99. The stock has a 50-day moving average of $90.46 and a 200 day moving average of $80.73. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 30.54 and a beta of 1.24.

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A number of analysts recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $92.00 price target (up previously from $74.00) on shares of Sina Corporation in a research note on Wednesday, May 17th. Jefferies Group LLC reiterated a “buy” rating and set a $122.00 price target on shares of Sina Corporation in a research note on Wednesday, May 17th. Benchmark Co. assumed coverage on shares of Sina Corporation in a research note on Tuesday, April 18th. They set a “buy” rating and a $110.00 price target for the company. BidaskClub upgraded shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Finally, T.H. Capital increased their price target on shares of Sina Corporation from $62.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, May 12th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Sina Corporation presently has an average rating of “Buy” and an average price target of $93.81.

Institutional investors have recently made changes to their positions in the stock. Platinum Investment Management Ltd. increased its position in shares of Sina Corporation by 27.8% in the first quarter. Platinum Investment Management Ltd. now owns 2,912,881 shares of the technology company’s stock valued at $210,076,000 after buying an additional 632,879 shares during the period. BlackRock Inc. increased its position in shares of Sina Corporation by 1,354.9% in the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock valued at $180,498,000 after buying an additional 2,702,176 shares during the period. Wells Fargo & Company MN increased its position in shares of Sina Corporation by 0.4% in the first quarter. Wells Fargo & Company MN now owns 2,331,525 shares of the technology company’s stock valued at $168,149,000 after buying an additional 8,891 shares during the period. State Street Corp increased its position in shares of Sina Corporation by 3.3% in the first quarter. State Street Corp now owns 828,359 shares of the technology company’s stock valued at $59,738,000 after buying an additional 26,710 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of Sina Corporation by 141.0% in the first quarter. Neuberger Berman Group LLC now owns 696,037 shares of the technology company’s stock valued at $50,198,000 after buying an additional 407,189 shares during the period. 66.43% of the stock is owned by institutional investors.

About Sina Corporation

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.

Earnings History for Sina Corporation (NASDAQ:SINA)

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