Shares of Sina Corp. (NASDAQ:SINA) traded up 10% on Tuesday following a better than expected earnings announcement. The stock traded as high as $75.00 and last traded at $74.05, with a volume of 2,934,500 shares trading hands. The stock had previously closed at $67.29.

The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.21. Sina Corp. had a net margin of 8.97% and a return on equity of 0.32%. The company had revenue of $272.30 million for the quarter, compared to the consensus estimate of $265.30 million. During the same period in the previous year, the business earned $0.39 EPS. The company’s revenue was up 21.5% on a year-over-year basis.

Several analysts have issued reports on the stock. Brean Capital reissued a “buy” rating and set a $70.67 target price (down from $100.00) on shares of Sina Corp. in a research note on Tuesday. 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 shares of Sina Corp. to a “buy” rating in a research note on Friday, August 19th. Finally, Citigroup Inc. initiated coverage on shares of Sina Corp. in a research note on Friday, August 5th. They issued a “buy” rating and a $69.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Sina Corp. currently has a consensus rating of “Buy” and a consensus price target of $61.37.

A number of large investors have recently added to or reduced their stakes in the stock. Platinum Investment Management Ltd. boosted its stake in Sina Corp. by 21.4% in the second quarter. Platinum Investment Management Ltd. now owns 5,211,734 shares of the company’s stock worth $270,332,000 after buying an additional 918,532 shares during the period. Schroder Investment Management Group boosted its stake in Sina Corp. by 159.0% in the second quarter. Schroder Investment Management Group now owns 4,013,943 shares of the company’s stock worth $208,203,000 after buying an additional 2,464,232 shares during the period. Hsbc Holdings PLC boosted its stake in Sina Corp. by 39.3% in the third quarter. Hsbc Holdings PLC now owns 1,774,160 shares of the company’s stock worth $130,986,000 after buying an additional 500,400 shares during the period. Hillhouse Capital Management Ltd. purchased a new stake in Sina Corp. during the third quarter worth about $104,854,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Sina Corp. during the third quarter worth about $42,854,000. Institutional investors own 57.50% of the company’s stock.

The stock has a market capitalization of $5.19 billion, a P/E ratio of 59.96 and a beta of 1.40. The stock’s 50 day moving average price is $73.42 and its 200-day moving average price is $63.73.

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About Sina Corp.

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.

5 Day Chart for NASDAQ:SINA

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