Weibo (WB) Stock Rating Lowered by BidaskClub
Weibo (NASDAQ:WB) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
A number of other research firms also recently weighed in on WB. Zacks Investment Research downgraded Weibo from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 12th. Barclays increased their target price on Weibo from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. Benchmark lowered their target price on Weibo from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Citigroup reissued a “buy” rating and issued a $126.00 target price (up previously from $102.00) on shares of Weibo in a report on Thursday, September 14th. Finally, Instinet reissued a “buy” rating and issued a $102.00 target price (up previously from $91.00) on shares of Weibo in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $93.39.
Shares of Weibo (WB) traded down $3.73 during trading hours on Friday, hitting $104.83. The stock had a trading volume of 2,187,513 shares, compared to its average volume of 2,290,868. The company has a market capitalization of $24,015.32, a P/E ratio of 92.00 and a beta of 2.54. Weibo has a 1 year low of $40.12 and a 1 year high of $123.00.
Several hedge funds and other institutional investors have recently bought and sold shares of WB. TB Alternative Assets Ltd. bought a new position in shares of Weibo in the fourth quarter worth about $1,043,000. CI Investments Inc. raised its stake in shares of Weibo by 16.3% in the fourth quarter. CI Investments Inc. now owns 357,500 shares of the information services provider’s stock worth $6,971,000 after buying an additional 50,000 shares during the period. GAM Holding AG raised its stake in shares of Weibo by 284.0% in the fourth quarter. GAM Holding AG now owns 96,000 shares of the information services provider’s stock worth $1,871,000 after buying an additional 71,000 shares during the period. Morgan Stanley raised its stake in shares of Weibo by 830.8% in the fourth quarter. Morgan Stanley now owns 215,157 shares of the information services provider’s stock worth $4,195,000 after buying an additional 192,042 shares during the period. Finally, FIL Ltd grew its position in shares of Weibo by 22.1% during the fourth quarter. FIL Ltd now owns 849,756 shares of the information services provider’s stock worth $16,570,000 after purchasing an additional 153,556 shares in the last quarter. 62.51% of the stock is currently 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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