Sina Corp. (SINA) Receives $61.54 Average PT from Analysts
Sina Corp. (NASDAQ:SINA) has received an average rating of “Buy” from the ten ratings firms that are covering the stock. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $61.54.
A number of brokerages have commented on SINA. Jefferies Group reaffirmed a “buy” rating and issued a $95.00 price target on shares of Sina Corp. in a research note on Friday, September 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Sina Corp. in a research note on Wednesday, August 31st. TheStreet raised Sina Corp. to a “buy” rating in a research note on Friday, August 19th. Brean Capital reaffirmed a “buy” rating on shares of Sina Corp. in a research note on Tuesday, August 16th. Finally, Citigroup Inc. began coverage on Sina Corp. in a research note on Friday, August 5th. They issued a “buy” rating and a $69.00 price target on the stock.
Several large investors have recently added to or reduced their stakes in SINA. Advisor Group Inc. raised its stake in Sina Corp. by 89.3% in the third quarter. Advisor Group Inc. now owns 2,016 shares of the company’s stock valued at $149,000 after buying an additional 951 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Sina Corp. by 2,840.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,499 shares of the company’s stock valued at $185,000 after buying an additional 2,414 shares during the period. Eqis Capital Management Inc. bought a new stake in Sina Corp. during the third quarter valued at approximately $229,000. USA Financial Portformulas Corp bought a new stake in Sina Corp. during the third quarter valued at approximately $264,000. Finally, Comerica Bank bought a new stake in Sina Corp. during the second quarter valued at approximately $250,000. Institutional investors own 59.13% of the company’s stock.
Shares of Sina Corp. (NASDAQ:SINA) opened at 69.40 on Friday. The company has a 50-day moving average price of $74.96 and a 200-day moving average price of $62.66. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 56.19 and a beta of 1.40. Sina Corp. has a 52-week low of $39.58 and a 52-week high of $85.24.
Sina Corp. Company Profile
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.
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