Sina Corporation (SINA) Shares Up -0.9% Following Strong Earnings

Shares of Sina Corporation (NASDAQ:SINA) were up 0.9% on Wednesday following a better than expected earnings announcement. The company traded as high as $100.98 and last traded at $98.16, with a volume of 1,977,226 shares changing hands. The stock had previously closed at $99.04.

The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.78. Sina Corporation had a net margin of 22.36% and a return on equity of 6.19%. The company had revenue of $278.10 million during the quarter, compared to analyst estimates of $267.14 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was up 40.0% compared to the same quarter last year.

Several research analysts recently issued reports on SINA shares. Jefferies Group LLC set a $98.00 target price on shares of Sina Corporation and gave the stock a “buy” rating in a research report on Thursday, March 2nd. T.H. Capital upped their target price on shares of Sina Corporation from $62.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, May 12th. Benchmark Co. started coverage on shares of Sina Corporation in a research report on Tuesday, April 18th. They issued a “buy” rating and a $110.00 target price for the company. Zacks Investment Research lowered shares of Sina Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, March 16th. Finally, Stifel Nicolaus reiterated 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Sina Corporation has a consensus rating of “Buy” and an average target price of $90.71.

Several hedge funds have recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Sina Corporation during the fourth quarter worth $204,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Sina Corporation during the first quarter worth $216,000. USA Financial Portformulas Corp raised its stake in Sina Corporation by 2.1% in the fourth quarter. USA Financial Portformulas Corp now owns 3,655 shares of the technology company’s stock worth $222,000 after buying an additional 74 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in Sina Corporation during the first quarter worth $228,000. Finally, FNY Partners Fund LP purchased a new stake in Sina Corporation during the first quarter worth $230,000. Institutional investors own 65.95% of the company’s stock.

The stock has a market capitalization of $6.10 billion, a P/E ratio of 26.24 and a beta of 1.15. The firm has a 50 day moving average price of $89.97 and a 200-day moving average price of $75.25.

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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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