Jefferies Group LLC Reaffirms Buy Rating for Sina Corporation (SINA)
Sina Corporation (NASDAQ:SINA)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a research report issued on Friday.
Other equities research analysts also recently issued research reports about the stock. Bank of America Corporation restated a “buy” rating and issued a $119.00 price objective (up previously from $112.00) on shares of Sina Corporation in a research note on Thursday. Citigroup Inc. raised their price objective on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus restated a “hold” rating and issued a $92.00 price objective (up previously from $74.00) on shares of Sina Corporation in a research note on Wednesday, May 17th. Benchmark Co. began coverage on shares of Sina Corporation in a research note on Tuesday, April 18th. They issued a “buy” rating and a $110.00 price objective on the stock. Finally, BidaskClub upgraded shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Sina Corporation presently has an average rating of “Buy” and an average price target of $101.74.
Sina Corporation (SINA) opened at 95.29 on Friday. The firm’s 50-day moving average is $91.83 and its 200-day moving average is $81.82. Sina Corporation has a 1-year low of $60.46 and a 1-year high of $105.99. The company has a market capitalization of $6.78 billion, a P/E ratio of 31.20 and a beta of 1.24.
Sina Corporation (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.65%. The company had revenue of $358.93 million for the quarter, compared to analyst estimates of $344.23 million. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. Equities research analysts predict that Sina Corporation will post $2.78 EPS for the current year.
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Large investors have recently bought and sold shares of the company. Dorsey Wright & Associates acquired a new stake in Sina Corporation during the first quarter worth $1,837,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Sina Corporation during the first quarter worth $228,000. DekaBank Deutsche Girozentrale acquired a new stake in Sina Corporation during the first quarter worth $795,000. First Trust Advisors LP increased its stake in Sina Corporation by 40.5% in the first quarter. First Trust Advisors LP now owns 53,655 shares of the technology company’s stock worth $3,870,000 after buying an additional 15,463 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its stake in Sina Corporation by 62.6% in the first quarter. Eqis Capital Management Inc. now owns 8,893 shares of the technology company’s stock worth $641,000 after buying an additional 3,425 shares in 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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