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SINA Hits a 52-Week High: Should it Be in Your Portfolio?
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.
SINA CORP Price and Consensus
SINA CORP Price and Consensus | SINA CORP Quote
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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