Q1 Preview (SINA) Analysts Expecting Strength from New Weibo Domain

Traders are selling shares of SINA Corp. (Nasdaq: SINA) in front of the company's first-quarter earnings report, due out following Wednesday's closing bell. The stock traded down as much as 4.4 percent earlier, however is bouncing into the close and is now down just 0.1 percent to $119.97.

The Street is currently looking for SINA to post quarterly earnings of 27 cents per share on sales of $95.39 million. If the company can hit these estimates, year-over-year profit would be down almost 21 percent while sales would be up about 19 percent.

Data from Bloomberg shows 15 analysts with a Buy rating on shares of SINA, seven with a Hold and four with a Sell.

The stock is up a sharp 73 percent since the beginning of this year.

Analyst Comments:

• Deutsche Bank - Expecting GAAP EPS of 24 cents on sales of $100 million. Deutsche Bank is looking for an indication as to how SINA will monetize its recently-launched Weibo and ways to diversify the domain's user demographic. Maintains a Sell and $54 price target.
  
  
• Goldman Sachs - Expecting non-GAAP EPS of 25 cents on sales of $94.9 million. Sees "positive updates on Weibo, including user growth, user activity levels and richer product portfolio." Also expecting strong online advertising sales growth "propoelled by an overall buoyant market, Weibo-driven brand benefits, and greater spend from fast-growing categories including e-commerce, group buying." Maintains Sell, $105 price target.

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