Weibo Corporation (WB) Cut to Hold at BidaskClub
Weibo Corporation (NASDAQ:WB) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Other analysts have also recently issued research reports about the company. Jefferies Group LLC decreased their target price on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Instinet reaffirmed a “buy” rating and issued a $102.00 target price (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Zacks Investment Research cut Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Citigroup Inc. reaffirmed a “buy” rating and issued a $126.00 target price (up previously from $102.00) on shares of Weibo Corporation in a research report on Thursday, September 14th. Finally, Barclays PLC set a $100.00 target price on Weibo Corporation and gave the stock an “overweight” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Weibo Corporation currently has an average rating of “Buy” and an average price target of $85.28.
Weibo Corporation (NASDAQ:WB) traded up 0.62% during trading on Monday, reaching $96.07. The company had a trading volume of 970,992 shares. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $108.30. The firm has a market capitalization of $19.92 billion, a price-to-earnings ratio of 110.68 and a beta of 2.57. The stock has a 50 day moving average price of $101.17 and a 200 day moving average price of $79.93.
Weibo Corporation (NASDAQ:WB) last issued its earnings results on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business had revenue of $253.37 million during 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%. Weibo Corporation’s revenue was up 72.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. On average, equities research analysts predict that Weibo Corporation will post $1.64 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Castleark Management LLC bought a new position in Weibo Corporation during the second quarter valued at about $110,000. Catamount Wealth Management bought a new position in Weibo Corporation during the second quarter valued at about $113,000. DekaBank Deutsche Girozentrale raised its holdings in Weibo Corporation by 301.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,006 shares of the information services provider’s stock valued at $626,000 after buying an additional 2,257 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Weibo Corporation during the first quarter valued at about $162,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Weibo Corporation during the second quarter valued at about $223,000. 19.56% of the stock is owned by hedge funds and other institutional investors.
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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