ValuEngine Lowers Weibo (WB) to Sell
Weibo (NASDAQ:WB) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.
WB has been the topic of a number of other research reports. Zacks Investment Research lowered Weibo from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised Weibo from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Barclays lifted their target price on Weibo from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. Citigroup reissued a “buy” rating and issued a $126.00 target price (up previously from $102.00) on shares of Weibo in a research report on Thursday, September 14th. Finally, Benchmark dropped their target price on Weibo from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $93.39.
Weibo (WB) traded down $3.73 during trading on Friday, reaching $104.83. The company had a trading volume of 2,187,939 shares, compared to its average volume of 2,033,261. Weibo has a fifty-two week low of $40.12 and a fifty-two week high of $123.00. The company has a market capitalization of $22,920.00, a PE ratio of 98.31 and a beta of 2.47.
Institutional investors have recently made changes to their positions in the stock. Harding Loevner LP increased its position in shares of Weibo by 2,621.2% during the 3rd quarter. Harding Loevner LP now owns 95,403,043 shares of the information services provider’s stock worth $476,760,000 after purchasing an additional 91,897,142 shares during the last quarter. BT Investment Management Ltd acquired a new position in shares of Weibo during the 2nd quarter worth approximately $63,749,000. Schroder Investment Management Group increased its position in shares of Weibo by 31.1% during the 3rd quarter. Schroder Investment Management Group now owns 2,300,656 shares of the information services provider’s stock worth $225,672,000 after purchasing an additional 545,683 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in shares of Weibo during the 2nd quarter worth approximately $27,010,000. Finally, Macquarie Group Ltd. increased its position in shares of Weibo by 36.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock worth $82,378,000 after purchasing an additional 334,095 shares during the last quarter. 62.51% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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