Weibo Corp (WB) Given Average Recommendation of “Buy” by Analysts
Shares of Weibo Corp (NASDAQ:WB) have earned an average rating of “Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $94.36.
A number of research analysts have issued reports on the company. BidaskClub cut Weibo from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 7th. Citigroup reissued a “buy” rating and set a $126.00 price objective (up from $102.00) on shares of Weibo in a report on Thursday, September 14th. Zacks Investment Research raised Weibo from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Tuesday, November 14th. Benchmark cut their price objective 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 lifted their price objective on Weibo from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th.
Shares of Weibo (NASDAQ WB) traded down $0.87 during mid-day trading on Monday, reaching $103.46. The company had a trading volume of 611,200 shares, compared to its average volume of 1,985,457. The company has a market capitalization of $22,887.11, a PE ratio of 87.68 and a beta of 2.54. Weibo has a 52-week low of $40.31 and a 52-week high of $123.00.
Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Weibo in the third quarter valued at $1,640,000. Neuberger Berman Group LLC acquired a new stake in Weibo in the third quarter worth about $1,414,000. Ladenburg Thalmann Financial Services Inc. increased its position in Weibo by 14.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,413 shares of the information services provider’s stock worth $436,000 after purchasing an additional 542 shares during the period. Janus Henderson Group PLC increased its position in Weibo by 23.6% in the third quarter. Janus Henderson Group PLC now owns 376,032 shares of the information services provider’s stock worth $37,199,000 after purchasing an additional 71,677 shares during the period. Finally, Cowen Inc. increased its position in Weibo by 254.4% in the third quarter. Cowen Inc. now owns 25,000 shares of the information services provider’s stock worth $2,474,000 after purchasing an additional 41,193 shares during the period. Institutional investors own 21.95% of the company’s stock.
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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