Sina Corporation (NASDAQ:SINA) Rating Reiterated by Bank of America Corporation

Sina Corporation (NASDAQ:SINA)‘s stock had its “buy” rating reaffirmed by analysts at Bank of America Corporation in a research report issued to clients and investors on Thursday. They currently have a $119.00 price target on the technology company’s stock, up from their previous price target of $112.00. Bank of America Corporation’s price objective would indicate a potential upside of 24.88% from the stock’s current price.

Several other brokerages have also recently commented on SINA. Jefferies Group LLC restated a “buy” rating and issued a $122.00 target price on shares of Sina Corporation in a research report on Tuesday, May 30th. Citigroup Inc. boosted their target price on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus restated a “hold” rating and issued a $92.00 target price (up from $74.00) on shares of Sina Corporation in a research report on Wednesday, May 17th. BidaskClub upgraded shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Finally, T.H. Capital boosted their target price on shares of Sina Corporation from $62.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, May 12th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sina Corporation has an average rating of “Buy” and a consensus price target of $101.74.

Shares of Sina Corporation (SINA) opened at 95.29 on Thursday. Sina Corporation has a 52 week low of $60.46 and a 52 week high of $105.99. The firm’s 50-day moving average is $91.83 and its 200 day moving average is $81.82. The company has a market capitalization of $6.78 billion, a PE ratio of 31.20 and a beta of 1.24.

Sina Corporation (NASDAQ:SINA) last issued its earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.43 by $0.27. The company had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.65%. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. On average, analysts anticipate that Sina Corporation will post $2.78 earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in the stock. Dorsey Wright & Associates bought a new stake in shares of Sina Corporation during the first quarter valued at about $1,837,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Sina Corporation during the first quarter valued at about $228,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sina Corporation during the first quarter valued at about $795,000. First Trust Advisors LP raised its stake in shares of Sina Corporation by 40.5% in the first quarter. First Trust Advisors LP now owns 53,655 shares of the technology company’s stock valued at $3,870,000 after buying an additional 15,463 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in shares of Sina Corporation by 62.6% in the first quarter. Eqis Capital Management Inc. now owns 8,893 shares of the technology company’s stock valued at $641,000 after buying an additional 3,425 shares during the period. 66.43% of the stock is currently owned by institutional investors.

Sina Corporation 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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