Weibo Corporation (WB) Given Consensus Rating of “Buy” by Analysts
Shares of Weibo Corporation (NASDAQ:WB) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $90.31.
A number of analysts recently commented on WB shares. Jefferies Group reduced their price objective on Weibo from $105.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. BidaskClub cut Weibo from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 7th. Citigroup reiterated a “buy” rating and set a $126.00 price objective (up previously from $102.00) on shares of Weibo in a research report on Thursday, September 14th. Instinet reiterated a “buy” rating and set a $102.00 price objective (up previously from $91.00) on shares of Weibo in a research report on Friday, August 11th. Finally, Zacks Investment Research upgraded Weibo from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Tuesday, November 14th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc boosted its stake in Weibo by 9,900.0% during the third quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock valued at $100,000 after buying an additional 990 shares during the last quarter. YorkBridge Wealth Partners LLC bought a new position in Weibo during the third quarter valued at approximately $105,000. Risk Paradigm Group LLC bought a new position in Weibo during the third quarter valued at approximately $109,000. Castleark Management LLC bought a new position in Weibo during the second quarter valued at approximately $110,000. Finally, Catamount Wealth Management bought a new position in Weibo during the second quarter valued at approximately $113,000. 21.98% of the stock is owned by hedge funds and other institutional investors.
Weibo (NASDAQ:WB) last posted its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Weibo had a return on equity of 30.00% and a net margin of 26.85%. The firm had revenue of $320.00 million during the quarter, compared to analysts’ expectations of $297.20 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue was up 80.9% on a year-over-year basis. equities analysts predict that Weibo will post 1.5 EPS for the current fiscal year.
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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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