Sina Corporation (SINA) Given New $140.00 Price Target at Citigroup Inc.
Sina Corporation (NASDAQ:SINA) had its target price upped by equities researchers at Citigroup Inc. to $140.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 40.00% from the company’s current price.
Other research analysts have also recently issued reports about the company. Stifel Nicolaus restated a “hold” rating and set a $92.00 price target (up from $74.00) on shares of Sina Corporation in a research note on Wednesday, May 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $122.00 price objective on shares of Sina Corporation in a research note on Wednesday, May 17th. Benchmark Co. initiated coverage on Sina Corporation in a research note on Tuesday, April 18th. They issued a “buy” rating and a $110.00 price objective on the stock. BidaskClub upgraded 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 objective on Sina Corporation from $62.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, May 12th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $99.58.
Shares of Sina Corporation (SINA) traded down 4.4178% on Thursday, hitting $95.5822. The stock had a trading volume of 940,298 shares. The company’s 50 day moving average price is $91.54 and its 200-day moving average price is $81.53. The company has a market cap of $6.78 billion, a P/E ratio of 29.1943 and a beta of 1.24. Sina Corporation has a 12 month low of $60.46 and a 12 month high of $105.99.
Sina Corporation (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.27. Sina Corporation had a return on equity of 6.19% and a net margin of 22.36%. The company had revenue of $358.93 million for the quarter, compared to analysts’ expectations of $344.23 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 47.1% compared to the same quarter last year. On average, analysts expect that Sina Corporation will post $2.74 earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of the stock. Dorsey Wright & Associates acquired a new position in Sina Corporation during the first quarter valued at approximately $1,837,000. Sheaff Brock Investment Advisors LLC acquired a new position in Sina Corporation during the first quarter valued at approximately $228,000. DekaBank Deutsche Girozentrale acquired a new position in Sina Corporation during the first quarter valued at approximately $795,000. First Trust Advisors LP raised its position 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 valued at $3,870,000 after buying an additional 15,463 shares during the period. Finally, Eqis Capital Management Inc. raised its position 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 valued at $641,000 after buying an additional 3,425 shares during the period. 66.43% of the stock is currently owned by hedge funds and other institutional investors.
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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