Sina Corporation (SINA) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research lowered shares of Sina Corporation (NASDAQ:SINA) from a hold rating to a strong sell rating in a research report released on Monday.

According to Zacks, “SINA Corp reported second quarter 2017 results wherein both earnings and revenues grew year over year. However, we believe that uncertainty over its advertising business and portal, which is preventing management from providing quarterly guidance, doesn't augur well for investors. Further, we believe that continuing investments in Weibo and other verticals like Internet finance, automobile and sports will hurt profitability, going forward. SINA’s monetization efforts may see regulatory pressure due to restrictions imposed by the Chinese government, which may hurt subscriber growth. The company is also seeing some headwinds in regards to obtaining new media rights for sports in China. Nevertheless, the growing popularity of Weibo and a robust mobile user base in China remain positives for the company.”

SINA has been the subject of several other reports. Jefferies Group LLC restated a buy rating and issued a $122.00 target price on shares of Sina Corporation in a research note on Tuesday, May 30th. BidaskClub downgraded shares of Sina Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Citigroup Inc. raised their target price on shares of Sina Corporation to $140.00 and gave the company a buy rating in a research note on Thursday, August 10th. T.H. Capital raised their target price on shares of Sina Corporation from $62.00 to $94.00 and gave the company a buy rating in a research note on Friday, May 12th. Finally, 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 note on Wednesday, May 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $101.74.

Sina Corporation (NASDAQ:SINA) opened at 96.86 on Monday. The company has a 50-day moving average of $93.16 and a 200-day moving average of $82.62. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 31.72 and a beta of 1.24. Sina Corporation has a one year low of $60.46 and a one year high of $105.99.

Sina Corporation (NASDAQ:SINA) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. The company had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. Sina Corporation’s revenue was up 47.1% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. On average, equities analysts forecast that Sina Corporation will post $2.86 EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of SINA. Bank of Montreal Can increased its stake in Sina Corporation by 11.7% in the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after buying an additional 152 shares during the last quarter. US Bancorp DE increased its stake in Sina Corporation by 55.1% in the second quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after buying an additional 533 shares during the last quarter. Bronfman E.L. Rothschild L.P. bought a new stake in Sina Corporation during the second quarter valued at approximately $136,000. Nomura Asset Management Co. Ltd. increased its stake in Sina Corporation by 11.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after buying an additional 230 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in Sina Corporation during the second quarter valued at approximately $180,000. Institutional investors and hedge funds own 66.00% of the company’s stock.

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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