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Sina (SINA) Up Into Tonight's Earnings Report
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Shares of Sina Corp. (Nasdaq: SINA) are up 2.5% ahead of the company's Q1 earnings due after the close. Wall Street is looking for EPS of $0.27 and revenues fo $67.35 million.
Last quarter (Q4), SINA beat the Wall Street view on EPS and revenues and provided upbeat guidance. Shares of SINA are up 24% since reporting Q4 numbers. Shares sold off 4.5% the day following the report, but trended higher the rest of the way.
Analysts at Piper Jaffray expect in-line results tonight and expect next quarter's guidance to be slightly ahead of the street. Piper also thinks SINA will outgrow rival Sohu, in terms of ad revenue, in the quarter. The firm has a Buy rating and $58 price target on SINA. Goldman Sach said they "expect Sina to report meaningful upside."
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