Weibo Corporation (WB) Stock Rating Reaffirmed by Citigroup Inc.
Weibo Corporation (NASDAQ:WB)‘s stock had its “buy” rating reaffirmed by equities research analysts at Citigroup Inc. in a research note issued on Thursday, The Fly reports. They currently have a $126.00 target price on the information services provider’s stock, up from their prior target price of $102.00. Citigroup Inc.’s price target suggests a potential upside of 18.74% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Jefferies Group LLC dropped their price target on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Zacks Investment Research upgraded Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $91.00 price target on the stock in a research report on Saturday, May 20th. Instinet restated a “buy” rating and issued a $102.00 price target (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Finally, Barclays PLC set a $100.00 price target on Weibo Corporation and gave the company an “overweight” rating in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Weibo Corporation has a consensus rating of “Buy” and a consensus price target of $85.28.
Shares of Weibo Corporation (WB) traded down 0.81% during mid-day trading on Thursday, hitting $106.11. The stock had a trading volume of 2,066,282 shares. The firm has a 50 day moving average price of $92.81 and a 200 day moving average price of $70.33. The firm has a market cap of $22.00 billion, a PE ratio of 122.25 and a beta of 2.61. Weibo Corporation has a 52-week low of $40.12 and a 52-week high of $108.30.
Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The firm had revenue of $253.37 million for the quarter, compared to analysts’ expectations of $246.78 million. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The firm’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 EPS. Equities analysts predict that Weibo Corporation will post $1.63 EPS for the current year.
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Several large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Weibo Corporation during the 2nd quarter worth approximately $223,000. Public Employees Retirement System of Ohio boosted its stake in shares of Weibo Corporation by 323.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 84,759 shares of the information services provider’s stock worth $5,634,000 after acquiring an additional 64,751 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in shares of Weibo Corporation by 1.8% during the 2nd quarter. 1st Global Advisors Inc. now owns 8,444 shares of the information services provider’s stock worth $561,000 after acquiring an additional 150 shares in the last quarter. Castleark Management LLC purchased a new stake in shares of Weibo Corporation during the 2nd quarter worth approximately $110,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Weibo Corporation during the 2nd quarter worth approximately $1,070,000. 19.58% of the stock is currently owned by institutional investors and hedge funds.
About Weibo Corporation
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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