Brokerages Set Sina Corporation (NASDAQ:SINA) Price Target at $96.00

Sina Corporation (NASDAQ:SINA) has received a consensus rating of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research 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 company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $109.60.

A number of analysts have recently commented on the company. Jefferies Group LLC restated a “buy” rating on shares of Sina Corporation in a report on Friday. Citigroup Inc. upped their price objective on Sina Corporation to $140.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus restated a “hold” rating and set a $92.00 price objective (up from $74.00) on shares of Sina Corporation in a report on Wednesday, May 17th. Bank of America Corporation restated a “buy” rating and set a $119.00 price objective (up from $112.00) on shares of Sina Corporation in a report on Thursday. Finally, Benchmark Co. assumed coverage on Sina Corporation in a report on Tuesday, April 18th. They set a “buy” rating and a $110.00 price objective for the company.

A number of institutional investors have recently bought and sold shares of SINA. Comerica Bank boosted its position in Sina Corporation by 14.6% in the fourth quarter. Comerica Bank now owns 4,008 shares of the technology company’s stock worth $275,000 after buying an additional 511 shares during the last quarter. Norges Bank purchased a new position in Sina Corporation during the fourth quarter worth $25,900,000. UBS Asset Management Americas Inc. purchased a new position in Sina Corporation during the fourth quarter worth $5,751,000. USA Financial Portformulas Corp boosted its position in Sina Corporation by 2.1% in the fourth quarter. USA Financial Portformulas Corp now owns 3,655 shares of the technology company’s stock worth $222,000 after buying an additional 74 shares during the last quarter. Finally, Teachers Advisors LLC purchased a new position in Sina Corporation during the fourth quarter worth $1,371,000. 66.43% of the stock is owned by institutional investors.

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Shares of Sina Corporation (SINA) traded up 0.94% during midday trading on Friday, hitting $95.29. The stock had a trading volume of 1,411,097 shares. The stock has a market cap of $6.78 billion, a P/E ratio of 31.20 and a beta of 1.24. The stock has a 50-day moving average price of $91.83 and a 200-day moving average price of $81.82. 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 data on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, topping 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 return on equity of 6.65% and a net margin of 18.64%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Equities analysts forecast that Sina Corporation will post $2.78 earnings per share for the current year.

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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