Piper Jaffray Overweight on SINA Going Into 3Q Results

Piper Jaffray has published a research report on SINA Corporation SINA and reiterates its Overweight rating and $139 price target. In the report, Piper Jaffray writes, "We believe the company could post slight upside to Street revenue estimates based on Sohu's Q3 branded ad revenue that came in at the high end of guidance. However, investors are likely to focus more on Weibo numbers and commentary. We believe the company could have 240-250 million Weibo users for Q3, which suggests that the pace of adds has essentially been maintained q/q as the current report comes with 82 days between reports vs 98 last quarter." SINA Corporation is currently trading up $0.41 from Friday's $83.10 closing price.