JPMorgan Chase & Co. Increases SINA (SINA) Price Target to $179.00
SINA (NASDAQ:SINA) had its target price lifted by JPMorgan Chase & Co. from $175.00 to $179.00 in a research report issued on Thursday. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 52.28% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the company. Benchmark upped their price objective on SINA from $157.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub cut SINA from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Zacks Investment Research upgraded SINA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Jefferies Group reiterated a “buy” rating and issued a $175.00 price target on shares of SINA in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $139.00.
SINA (NASDAQ:SINA) traded up $5.30 on Thursday, hitting $117.55. The stock had a trading volume of 1,638,700 shares, compared to its average volume of 963,433. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.04. The company has a market cap of $8,027.52, a P/E ratio of 56.24 and a beta of 1.03. SINA has a fifty-two week low of $68.13 and a fifty-two week high of $122.93.
Several hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of SINA by 10.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,500 shares of the technology company’s stock valued at $631,000 after purchasing an additional 500 shares during the period. Advisor Group Inc. increased its holdings in shares of SINA by 24.8% in the fourth quarter. Advisor Group Inc. now owns 3,987 shares of the technology company’s stock valued at $399,000 after purchasing an additional 792 shares during the period. AMP Capital Investors Ltd increased its holdings in shares of SINA by 9.4% in the third quarter. AMP Capital Investors Ltd now owns 9,300 shares of the technology company’s stock valued at $1,066,000 after purchasing an additional 800 shares during the period. Creative Planning increased its holdings in shares of SINA by 39.6% in the fourth quarter. Creative Planning now owns 3,506 shares of the technology company’s stock valued at $352,000 after purchasing an additional 995 shares during the period. Finally, Ellington Management Group LLC increased its holdings in shares of SINA by 27.8% in the fourth quarter. Ellington Management Group LLC now owns 4,600 shares of the technology company’s stock valued at $461,000 after purchasing an additional 1,000 shares during the period. 68.61% of the stock is currently owned by institutional investors and hedge funds.
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SINA 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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