Weibo Corp (WB) Upgraded to “Strong-Buy” by Zacks Investment Research
Weibo Corp (NASDAQ:WB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Saturday. The brokerage presently has a $91.00 target price on the information services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.20% from the stock’s previous close.
According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “
Other equities research analysts have also issued research reports about the stock. Benchmark Co. began coverage on shares of Weibo Corp in a research report on Tuesday, April 18th. They issued a “buy” rating and a $65.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and issued a $82.00 target price on shares of Weibo Corp in a research note on Tuesday. Vetr downgraded shares of Weibo Corp from a “strong-buy” rating to a “buy” rating and set a $65.50 target price for the company. in a research note on Monday, May 8th. Instinet started coverage on shares of Weibo Corp in a research note on Monday, February 13th. They issued a “buy” rating and a $63.00 target price for the company. Finally, T.H. Capital restated a “buy” rating and issued a $70.00 target price (up from $60.00) on shares of Weibo Corp in a research note on Tuesday, May 9th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $66.95.
Weibo Corp (NASDAQ:WB) opened at 78.31 on Friday. The stock has a market cap of $16.23 billion, a PE ratio of 119.01 and a beta of 2.66. The firm has a 50-day moving average of $57.01 and a 200 day moving average of $50.31. Weibo Corp has a 12 month low of $23.00 and a 12 month high of $82.28.
Weibo Corp (NASDAQ:WB) last released its quarterly earnings data on Tuesday, May 16th. The information services provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. Weibo Corp had a net margin of 14.22% and a return on equity of 12.79%. The company had revenue of $199.20 million during the quarter, compared to analyst estimates of $188.29 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 67.0% compared to the same quarter last year. Analysts anticipate that Weibo Corp will post $1.47 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alta Advisers Ltd increased its position in shares of Weibo Corp by 5.0% in the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock valued at $110,000 after buying an additional 100 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Weibo Corp by 183.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,774 shares of the information services provider’s stock worth $153,000 after buying an additional 2,443 shares during the period. Advisors Preferred LLC increased its position in Weibo Corp by 833.0% in the third quarter. Advisors Preferred LLC now owns 3,107 shares of the information services provider’s stock worth $156,000 after buying an additional 2,774 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Weibo Corp during the first quarter worth approximately $162,000. Finally, Victory Capital Management Inc. increased its position in Weibo Corp by 16.0% in the first quarter. Victory Capital Management Inc. now owns 3,894 shares of the information services provider’s stock worth $203,000 after buying an additional 537 shares during the period. Institutional investors and hedge funds own 16.58% of the company’s stock.
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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