SINA (SINA) Rating Increased to Hold at Zacks Investment Research
SINA (NASDAQ:SINA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “SINA’s third-quarter results benefited from ad revenue growth. However, higher marketing costs related to Weibo, SINA news and finance applications negatively impacted bottom-line. Management stated that the continuing decline in macroeconomic conditions in China will hurt advertising revenues in the near term. The company’s social media platform Weibo is facing strict regulation that is hurting growth prospects. Additionally, stricter regulation in the micro-lending sector is an overhang. Moreover, stiff competition in Chinese online advertising market is a big threat. Shares have underperformed the industry on a year-to-date basis. Nevertheless, the company’s effort to add consumer-centric features to the growing Weibo platform is noteworthy for investors. Moreover, SINA’s partnerships with professional agencies in verticals like e-commerce, video IP and live broadcasting will help it to expand mobile market share.”
Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group reiterated a “buy” rating and set a $89.00 target price on shares of SINA in a report on Tuesday, November 20th. Benchmark lowered their target price on SINA from $119.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, November 5th. BidaskClub raised SINA from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on SINA in a research note on Wednesday, August 29th. They set an “overweight” rating and a $150.00 price target on the stock. Finally, ValuEngine raised SINA from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $111.40.
SINA (NASDAQ:SINA) last announced its earnings results on Wednesday, November 28th. The technology company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.16. The firm had revenue of $557.20 million for the quarter, compared to analysts’ expectations of $561.76 million. SINA had a return on equity of 4.22% and a net margin of 7.58%. SINA’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities research analysts forecast that SINA will post 2.15 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. First Hawaiian Bank purchased a new position in shares of SINA during the 3rd quarter worth $125,000. Redpoint Investment Management Pty Ltd purchased a new position in shares of SINA during the 2nd quarter worth $202,000. PNC Financial Services Group Inc. lifted its stake in shares of SINA by 44.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,626 shares of the technology company’s stock worth $222,000 after purchasing an additional 813 shares during the period. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of SINA during the 3rd quarter worth $244,000. Finally, Creative Planning purchased a new position in shares of SINA during the 3rd quarter worth $258,000. 64.83% of the stock is currently owned by institutional investors.
SINA Company Profile
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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