SINA Corporation hit a new 52-week high of $74.00 in Friday’s trading session, closing slightly lower at $73.46.
The company’s shares have been on an uptrend since it reported robust second-quarter 2016 results on Aug 8. Since then its shares have rocketed over 89% compared with the S&P 500 index’s return of about 9%.
Not only did the company fare better-than-expected on both counts but also raised its revenue guidance for 2016.
The company has been benefiting from the strength in its micro-blogging platform Weibo (WB - Free Report) , a strong product pipeline and a robust user base for its e-Commerce offerings. In the past, the company initiated live video streaming on the Weibo platform, which is an important growth factor as mobile users in China are on the rise. This is expected to open more avenues for the platform’s monetization going ahead.
Growth potential of the e-commerce, e-banking, online payment and online entertainment services markets in China over the long term is also a positive for the company.
However, the company’s business can be impacted by uncertain macroeconomic conditions in China. Also, significant restrictions on online search and other social-networking activities in the region remain concerns.
Currently, SINA has a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Shutterstock, Inc. (SSTK - Free Report) and Everyday Health, Inc. , each having a Zacks Rank #2 (Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
SINA Corporation hit a new 52-week high of $74.00 in Friday’s trading session, closing slightly lower at $73.46.
The company’s shares have been on an uptrend since it reported robust second-quarter 2016 results on Aug 8. Since then its shares have rocketed over 89% compared with the S&P 500 index’s return of about 9%.
Not only did the company fare better-than-expected on both counts but also raised its revenue guidance for 2016.
The company has been benefiting from the strength in its micro-blogging platform Weibo (WB - Free Report) , a strong product pipeline and a robust user base for its e-Commerce offerings. In the past, the company initiated live video streaming on the Weibo platform, which is an important growth factor as mobile users in China are on the rise. This is expected to open more avenues for the platform’s monetization going ahead.
Growth potential of the e-commerce, e-banking, online payment and online entertainment services markets in China over the long term is also a positive for the company.
However, the company’s business can be impacted by uncertain macroeconomic conditions in China. Also, significant restrictions on online search and other social-networking activities in the region remain concerns.
Currently, SINA has a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Shutterstock, Inc. (SSTK - Free Report) and Everyday Health, Inc. , each having a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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