SINA Corp (NASDAQ:SINA) Receives $82.25 Consensus PT from Analysts
Shares of SINA Corp (NASDAQ:SINA) have been given an average rating of “Hold” by the twelve brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $82.25.
Several equities analysts recently commented on SINA shares. Goldman Sachs Group raised shares of SINA from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $71.00 to $61.00 in a research report on Friday, May 31st. BOCOM International raised shares of SINA from a “neutral” rating to a “buy” rating in a research report on Wednesday. Jefferies Financial Group assumed coverage on shares of SINA in a research report on Monday, August 5th. They set a “hold” rating for the company. BidaskClub upgraded shares of SINA from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, ValuEngine upgraded shares of SINA from a “sell” rating to a “hold” rating in a research note on Tuesday.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of SINA by 2.6% in the 1st quarter. BlackRock Inc. now owns 4,733,305 shares of the technology company’s stock worth $280,402,000 after acquiring an additional 118,172 shares during the period. Genesis Asset Managers LLP grew its position in SINA by 181.5% in the 2nd quarter. Genesis Asset Managers LLP now owns 3,177,323 shares of the technology company’s stock valued at $137,038,000 after buying an additional 2,048,698 shares in the last quarter. Fosun International Ltd grew its position in SINA by 1.9% in the 1st quarter. Fosun International Ltd now owns 1,967,578 shares of the technology company’s stock valued at $116,560,000 after buying an additional 35,802 shares in the last quarter. HBK Investments L P grew its position in SINA by 60.5% in the 2nd quarter. HBK Investments L P now owns 1,451,465 shares of the technology company’s stock valued at $62,602,000 after buying an additional 547,320 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in SINA by 11.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,146,773 shares of the technology company’s stock valued at $49,460,000 after buying an additional 116,471 shares in the last quarter. 65.02% of the stock is currently owned by institutional investors and hedge funds.
SINA (NASDAQ:SINA) last posted its quarterly earnings data on Monday, August 19th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.74. SINA had a net margin of 6.06% and a return on equity of 3.47%. The business had revenue of $533.00 million during the quarter, compared to analyst estimates of $519.55 million. During the same quarter in the previous year, the business posted $0.89 earnings per share. The company’s revenue was down .8% on a year-over-year basis. As a group, equities analysts forecast that SINA will post 1.95 EPS for the current year.
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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