Brokerages Set Sina Corporation (SINA) PT at $109.60

Shares of Sina Corporation (NASDAQ:SINA) have been assigned an average rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $109.60.

A number of analysts have weighed in on SINA shares. Jefferies Group LLC reissued a “buy” rating and set a $122.00 target price on shares of Sina Corporation in a research report on Friday, July 14th. Stifel Nicolaus reissued a “hold” rating on shares of Sina Corporation in a research report on Friday, June 23rd. BidaskClub downgraded shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price objective (up previously from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th.

Sina Corporation (SINA) traded up 1.42% on Wednesday, reaching $116.59. 665,833 shares of the company traded hands. The firm has a 50 day moving average of $112.11 and a 200-day moving average of $93.70. Sina Corporation has a one year low of $60.46 and a one year high of $119.20. The stock has a market capitalization of $8.30 billion, a PE ratio of 38.18 and a beta of 1.16.

Sina Corporation (NASDAQ:SINA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.27. The business had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, analysts anticipate that Sina Corporation will post $2.92 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Sina Corporation by 1,354.9% in the 1st quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after purchasing an additional 2,702,176 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Sina Corporation by 55.1% in the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after purchasing an additional 533 shares in the last quarter. Eqis Capital Management Inc. lifted its holdings in shares of Sina Corporation by 25.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 11,114 shares of the technology company’s stock worth $944,000 after purchasing an additional 2,221 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Sina Corporation by 2.8% in the 1st quarter. Legal & General Group Plc now owns 124,043 shares of the technology company’s stock worth $8,946,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Sina Corporation in the 2nd quarter worth $1,077,000. Institutional investors own 66.91% of the company’s stock.

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A number of analysts have weighed in on SINA shares. Jefferies Group LLC reissued a “buy” rating and set a $122.00 target price on shares of Sina Corporation in a research report on Friday, July 14th. Stifel Nicolaus reissued a “hold” rating on shares of Sina Corporation in a research report on Friday, June 23rd. BidaskClub downgraded shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price objective (up previously from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th.

Sina Corporation (SINA) traded up 1.42% on Wednesday, reaching $116.59. 665,833 shares of the company traded hands. The firm has a 50 day moving average of $112.11 and a 200-day moving average of $93.70. Sina Corporation has a one year low of $60.46 and a one year high of $119.20. The stock has a market capitalization of $8.30 billion, a PE ratio of 38.18 and a beta of 1.16.

Sina Corporation (NASDAQ:SINA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.27. The business had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, analysts anticipate that Sina Corporation will post $2.92 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Sina Corporation by 1,354.9% in the 1st quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after purchasing an additional 2,702,176 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Sina Corporation by 55.1% in the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after purchasing an additional 533 shares in the last quarter. Eqis Capital Management Inc. lifted its holdings in shares of Sina Corporation by 25.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 11,114 shares of the technology company’s stock worth $944,000 after purchasing an additional 2,221 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Sina Corporation by 2.8% in the 1st quarter. Legal & General Group Plc now owns 124,043 shares of the technology company’s stock worth $8,946,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Sina Corporation in the 2nd quarter worth $1,077,000. Institutional investors own 66.91% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/23/brokerages-set-sina-corporation-sina-pt-at-109-60.html.

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.

Analyst Recommendations for Sina Corporation (NASDAQ:SINA)

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