Weibo Corp. (WB) Given Average Recommendation of “Buy” by Analysts
Weibo Corp. (NASDAQ:WB) has received a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the stock. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $49.29.
Several research firms have issued reports on WB. Zacks Investment Research cut Weibo Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. T.H. Capital upped their price target on Weibo Corp. from $38.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 7th. Goldman Sachs Group Inc. upped their price target on Weibo Corp. from $25.40 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Jefferies Group set a $40.00 price target on Weibo Corp. and gave the company a “buy” rating in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $43.00 price target on shares of Weibo Corp. in a report on Thursday, August 11th.
Several institutional investors have recently bought and sold shares of WB. 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. Westpac Banking Corp bought a new position in Weibo Corp. during the second quarter valued at approximately $22,947,000. Acadian Asset Management LLC bought a new position in Weibo Corp. during the second quarter valued at approximately $13,896,000. Finally, Emerald Acquisition Ltd. bought a new position in Weibo Corp. during the second quarter valued at approximately $7,853,000. Institutional investors and hedge funds own 12.31% of the company’s stock.
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Shares of Weibo Corp. (NASDAQ:WB) traded up 0.15% on Monday, hitting $53.16. The company had a trading volume of 698,230 shares. The company has a 50 day moving average of $50.23 and a 200-day moving average of $33.96. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 177.20 and a beta of 2.70. Weibo Corp. has a 12-month low of $12.09 and a 12-month high of $55.93.
Weibo Corp. (NASDAQ:WB) last announced its earnings results on Monday, August 8th. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. Weibo Corp. had a return on equity of 10.62% and a net margin of 12.33%. The firm had revenue of $146.90 million for the quarter, compared to analysts’ expectations of $141.15 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, analysts forecast that Weibo Corp. will post $0.73 earnings per share for the current year.
About Weibo Corp.
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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