Weibo Corp. (WB) Given New $60.00 Price Target at T.H. Capital
Weibo Corp. (NASDAQ:WB) had its price target raised by stock analysts at T.H. Capital from $38.00 to $60.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the stock. T.H. Capital’s price objective suggests a potential upside of 14.00% from the company’s previous close.
A number of other brokerages also recently commented on WB. JPMorgan Chase & Co. assumed coverage on Weibo Corp. in a research note on Wednesday, August 31st. They issued an “overweight” rating and a $70.00 target price on the stock. Citigroup Inc. assumed coverage on Weibo Corp. in a research note on Friday, August 5th. They issued a “buy” rating on the stock. Goldman Sachs Group Inc. boosted their target price on Weibo Corp. from $25.40 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Jefferies Group set a $40.00 price target on Weibo Corp. and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Finally, Zacks Investment Research downgraded Weibo Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $49.29.
Weibo Corp. (NASDAQ:WB) traded down 0.329% during midday trading on Friday, reaching $52.457. The company’s stock had a trading volume of 246,863 shares. The firm has a market capitalization of $10.87 billion, a PE ratio of 174.857 and a beta of 2.70. Weibo Corp. has a 52 week low of $12.09 and a 52 week high of $55.59. The stock has a 50 day moving average of $48.89 and a 200 day moving average of $32.58.
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Weibo Corp. (NASDAQ:WB) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Weibo Corp. had a return on equity of 10.62% and a net margin of 12.33%. The business had revenue of $146.90 million for the quarter, compared to the consensus estimate of $141.15 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. Weibo Corp.’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, equities research analysts predict that Weibo Corp. will post $0.73 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Alibaba Group Holding Ltd acquired a new position in Weibo Corp. during the fourth quarter valued at $117,000,000. Value Partners Ltd. ADV boosted its position in Weibo Corp. by 94.0% in the second quarter. Value Partners Ltd. ADV now owns 2,626,659 shares of the company’s stock valued at $74,623,000 after buying an additional 1,272,779 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Weibo Corp. by 112.0% in the second quarter. 1832 Asset Management L.P. now owns 1,658,100 shares of the company’s stock valued at $47,418,000 after buying an additional 876,000 shares in the last quarter. FIL Ltd boosted its position in Weibo Corp. by 22.1% in the fourth quarter. FIL Ltd now owns 849,756 shares of the company’s stock valued at $16,570,000 after buying an additional 153,556 shares in the last quarter. Finally, Westpac Banking Corp acquired a new position in Weibo Corp. during the second quarter valued at $22,947,000. 12.33% of the stock is owned by institutional investors and hedge funds.
Weibo Corp. Company Profile
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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