Sina Corporation (SINA) Stock Rating Reaffirmed by Bank of America Corporation
Sina Corporation (NASDAQ:SINA)‘s stock had its “buy” rating reiterated by equities research analysts at Bank of America Corporation in a note issued to investors on Thursday. They presently have a $119.00 target price on the technology company’s stock, up from their prior target price of $112.00. Bank of America Corporation’s target price would indicate a potential upside of 26.06% from the stock’s previous close.
Several other equities analysts have also recently weighed in on the stock. Citigroup Inc. increased their price objective on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a research note on Thursday. BidaskClub upgraded shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $122.00 price objective on shares of Sina Corporation in a research note on Friday, July 14th. Stifel Nicolaus reiterated a “hold” rating on shares of Sina Corporation in a research note on Friday, June 23rd. Finally, T.H. Capital increased their price objective 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 equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $101.74.
Sina Corporation (NASDAQ:SINA) traded down 5.60% during trading on Thursday, hitting $94.40. 1,427,333 shares of the stock traded hands. Sina Corporation has a 52-week low of $60.46 and a 52-week high of $105.99. The company has a market cap of $6.70 billion, a P/E ratio of 28.83 and a beta of 1.24. The firm has a 50-day moving average price of $91.61 and a 200 day moving average price of $81.62.
Sina Corporation (NASDAQ:SINA) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 22.36% and a return on equity of 6.19%. The firm had revenue of $358.93 million for the quarter, compared to analysts’ expectations of $344.23 million. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s quarterly revenue was up 47.1% on a year-over-year basis. On average, equities analysts expect that Sina Corporation will post $2.74 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. purchased a new stake in Sina Corporation during the second quarter worth approximately $372,000. Dorsey Wright & Associates boosted its stake in Sina Corporation by 51.8% in the second quarter. Dorsey Wright & Associates now owns 38,664 shares of the technology company’s stock worth $1,471,000 after buying an additional 13,196 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Sina Corporation by 23.0% in the second quarter. TIAA CREF Investment Management LLC now owns 138,191 shares of the technology company’s stock worth $11,742,000 after buying an additional 25,826 shares during the last quarter. Teachers Advisors LLC boosted its stake in Sina Corporation by 476.0% in the second quarter. Teachers Advisors LLC now owns 147,871 shares of the technology company’s stock worth $12,565,000 after buying an additional 122,200 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in Sina Corporation during the second quarter worth approximately $414,000. 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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