Weibo Co. (NASDAQ:WB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $118.00 price objective on the information services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.68% from the company’s current price.

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. “

Several other analysts have also recently commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 price target on shares of Weibo in a report on Thursday, July 27th. BidaskClub cut Weibo from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Citigroup Inc. reissued a “buy” rating and issued a $126.00 price target (up from $102.00) on shares of Weibo in a report on Thursday, September 14th. Benchmark Co. reduced their price target on Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, Barclays PLC set a $100.00 price target on Weibo and gave the company an “overweight” rating in a report on Friday, August 11th. Ten analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $91.17.

Weibo (NASDAQ:WB) traded up $3.42 during trading on Tuesday, reaching $108.58. The company’s stock had a trading volume of 1,751,600 shares, compared to its average volume of 2,029,311. Weibo has a 52 week low of $40.12 and a 52 week high of $110.48. The firm has a market cap of $23,263.18, a PE ratio of 89.12 and a beta of 2.50.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. The business had revenue of $320.00 million during the quarter, compared to analysts’ expectations of $297.20 million. Weibo had a return on equity of 41.72% and a net margin of 31.46%. The company’s quarterly revenue was up 80.9% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. research analysts predict that Weibo will post 1.49 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its position in Weibo by 83.4% during the first quarter. Parametric Portfolio Associates LLC now owns 21,318 shares of the information services provider’s stock worth $1,112,000 after buying an additional 9,693 shares in the last quarter. Vanguard Group Inc. increased its position in Weibo by 2.6% during the first quarter. Vanguard Group Inc. now owns 165,119 shares of the information services provider’s stock worth $8,616,000 after buying an additional 4,195 shares in the last quarter. Geode Capital Management LLC increased its position in Weibo by 20.3% during the first quarter. Geode Capital Management LLC now owns 70,163 shares of the information services provider’s stock worth $3,650,000 after buying an additional 11,825 shares in the last quarter. State Street Corp increased its position in Weibo by 14.2% during the first quarter. State Street Corp now owns 513,031 shares of the information services provider’s stock worth $26,771,000 after buying an additional 63,983 shares in the last quarter. Finally, Credit Suisse AG increased its position in Weibo by 23.0% during the first quarter. Credit Suisse AG now owns 133,977 shares of the information services provider’s stock worth $6,991,000 after buying an additional 25,057 shares in the last quarter. 19.54% of the stock is owned by hedge funds and other institutional investors.

Weibo 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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Analyst Recommendations for Weibo (NASDAQ:WB)

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