StockNews.com upgraded shares of Weibo (NASDAQ:WB – Get Rating) from a hold rating to a buy rating in a report published on Wednesday morning.
Several other equities research analysts have also commented on the company. The Goldman Sachs Group began coverage on Weibo in a research report on Sunday, April 10th. They set a hold rating and a $37.50 target price on the stock. CLSA cut their target price on Weibo from $45.00 to $42.70 and set a buy rating on the stock in a research report on Wednesday, May 18th. HSBC cut their target price on Weibo from $31.00 to $26.00 and set a hold rating on the stock in a research report on Thursday, June 2nd. Finally, Benchmark cut their target price on Weibo from $56.00 to $39.00 in a research report on Wednesday, June 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Weibo currently has a consensus rating of Moderate Buy and a consensus target price of $39.33.
Get Weibo alerts:Weibo Trading Down 1.0 %
NASDAQ WB opened at $19.31 on Wednesday. The business's 50-day moving average price is $21.98 and its two-hundred day moving average price is $25.77. Weibo has a 12 month low of $18.62 and a 12 month high of $63.94. The firm has a market capitalization of $4.57 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.43.
Weibo (NASDAQ:WB – Get Rating) last released its quarterly earnings results on Wednesday, June 1st. The information services provider reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. Weibo had a return on equity of 14.51% and a net margin of 13.62%. The firm had revenue of $484.60 million for the quarter, compared to analyst estimates of $473.58 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business's revenue was up 5.6% on a year-over-year basis. On average, analysts expect that Weibo will post 2.17 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Weibo in the fourth quarter worth approximately $143,502,000. Renaissance Technologies LLC raised its stake in shares of Weibo by 669.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,117,061 shares of the information services provider's stock worth $34,607,000 after purchasing an additional 971,853 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in shares of Weibo in the fourth quarter worth approximately $77,000. Parallel Advisors LLC raised its stake in shares of Weibo by 331.3% in the fourth quarter. Parallel Advisors LLC now owns 828 shares of the information services provider's stock worth $26,000 after purchasing an additional 636 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC purchased a new stake in shares of Weibo in the fourth quarter worth approximately $297,000. 71.37% of the stock is owned by institutional investors and hedge funds.
About Weibo
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Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.
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