Citigroup Initiates Coverage on SINA Corp to Buy

Citigroup Initiates Coverage on SINA Corp(NASDAQ:SINA). The shares have been rated Buy. The rating by Citigroup was issued on Aug 5, 2016.

In a different note, On Jul 22, 2016, Jefferies said it Upgrades its rating on SINA Corp. The shares have been rated ‘Buy’ by the firm.

SINA Corp (SINA) shares turned negative on Wednesdays trading session with the shares closing down -1.65 points or -2.30% at a volume of 14,17,814. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $71.38. The peak price level was also seen at $71.38 while the days lowest was $69.29. Finally the shares closed at $69.99. The 52-week high of the shares is $72.44 while the 52-week low is $32.61. According to the latest information available, the market cap of the company is $4,888 M.

SINA Corp(SINA) last announced its earnings results on May 11, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $196.07M. Analysts had an estimated revenue of $189.47M. Earnings per share were $-0.04. Analysts had estimated an EPS of $-0.05.

SINA Corporation is an online media company serving China and the global Chinese communities. The Company operates its business through three business segments: SINA Portal Weibo and other businesses. Its digital media network of SINA mobile and Weibo enables Internet users to access media and users generated content (UGC) in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances. offers professional content on each of its region-specific Websites and a range of complementary offerings. Its mobile portal provides news information and entertainment content from customized for mobile users in WAP (mobile browser) and mobile application format such as SINA News SINA Sports SINA Finance SINA Entertainment and SINA Blog. Weibo is a social media platform for people to create distribute and discover Chinese-language content.

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