SINA Corp (NASDAQ:SINA) Receives $76.93 Average Target Price from Analysts

Shares of SINA Corp (NASDAQ:SINA) have received an average recommendation of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $76.93.

A number of research firms recently issued reports on SINA. BidaskClub raised SINA from a “strong sell” rating to a “sell” rating in a report on Saturday, February 23rd. Benchmark lifted their price target on SINA from $96.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Zacks Investment Research cut SINA from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Deutsche Bank lowered SINA from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Macquarie lowered SINA from an “outperform” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research report on Friday, May 24th.

Shares of SINA stock traded up $1.05 during trading on Tuesday, reaching $42.31. The company’s stock had a trading volume of 713,503 shares, compared to its average volume of 850,710. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.25. SINA has a one year low of $38.84 and a one year high of $96.71. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 24.89 and a beta of 1.42.

SINA (NASDAQ:SINA) last released its quarterly earnings results on Thursday, May 23rd. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.29. SINA had a return on equity of 3.47% and a net margin of 6.06%. The business had revenue of $475.10 million during the quarter, compared to analysts’ expectations of $477.57 million. During the same period in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that SINA will post 2.14 EPS for the current year.

A number of hedge funds have recently made changes to their positions in SINA. Norges Bank acquired a new stake in SINA in the fourth quarter worth about $40,222,000. Man Group plc acquired a new stake in SINA in the first quarter worth about $41,756,000. Kayne Anderson Rudnick Investment Management LLC increased its position in SINA by 50.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,030,888 shares of the technology company’s stock worth $61,070,000 after purchasing an additional 345,678 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in SINA by 171.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 434,481 shares of the technology company’s stock worth $25,739,000 after purchasing an additional 274,151 shares during the period. Finally, Green Court Capital Management Ltd increased its position in SINA by 17.5% in the fourth quarter. Green Court Capital Management Ltd now owns 1,789,430 shares of the technology company’s stock worth $95,985,000 after purchasing an additional 266,059 shares during the period. Hedge funds and other institutional investors own 62.07% of the company’s stock.

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.

See Also: Trade War

Analyst Recommendations for SINA (NASDAQ:SINA)

Receive News & Ratings for SINA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SINA and related companies with MarketBeat.com's FREE daily email newsletter.