Citigroup set a $59.00 target price on SINA (NASDAQ:SINA) in a research report sent to investors on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the technology company’s stock.
Other equities analysts have also recently issued research reports about the company. Benchmark reduced their target price on SINA from $108.00 to $78.00 and set a buy rating on the stock in a report on Friday, May 24th. ValuEngine upgraded SINA from a sell rating to a hold rating in a report on Tuesday, August 20th. BOCOM International upgraded SINA from a neutral rating to a buy rating in a report on Wednesday. Macquarie cut SINA from an outperform rating to a neutral rating and set a $38.00 target price on the stock. in a report on Friday, May 24th. Finally, Zacks Investment Research cut SINA from a hold rating to a strong sell rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $73.83.
Shares of SINA opened at $40.19 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.61 and a debt-to-equity ratio of 0.24. SINA has a 1 year low of $32.99 and a 1 year high of $72.94. The stock has a market cap of $3.01 billion, a P/E ratio of 23.64 and a beta of 1.37. The stock’s 50-day moving average price is $39.37 and its two-hundred day moving average price is $51.20.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Destination Wealth Management acquired a new stake in shares of SINA during the second quarter worth about $38,000. Signaturefd LLC raised its position in shares of SINA by 53.6% during the second quarter. Signaturefd LLC now owns 885 shares of the technology company’s stock worth $38,000 after purchasing an additional 309 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of SINA during the second quarter worth about $52,000. Hall Laurie J Trustee raised its position in shares of SINA by 668.6% during the second quarter. Hall Laurie J Trustee now owns 1,345 shares of the technology company’s stock worth $58,000 after purchasing an additional 1,170 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of SINA by 110.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,276 shares of the technology company’s stock worth $76,000 after purchasing an additional 670 shares during the period. 65.02% of the stock is currently owned by institutional investors.
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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