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Equities researchers at Morgan Stanley began coverage on shares of Weibo (NASDAQ:WB) in a research report issued to clients and investors on Friday. The firm set an “overweight” rating and a $130.00 price target on the information services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 11.87% from the company’s previous close.
Several other brokerages have also recently commented on WB. BidaskClub cut shares of Weibo from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 7th. Citigroup reissued a “buy” rating and issued a $126.00 price target (up previously from $102.00) on shares of Weibo in a research report on Thursday, September 14th. Zacks Investment Research raised shares of Weibo from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Tuesday, November 14th. Benchmark decreased their price target on shares of Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Finally, UBS Group began coverage on shares of Weibo in a research report on Tuesday. They issued a “buy” rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $103.35.
Weibo (WB) traded up $1.12 during trading hours on Friday, hitting $116.21. 1,378,100 shares of the company were exchanged, compared to its average volume of 2,036,600. The stock has a market cap of $25,670.00, a PE ratio of 99.32 and a beta of 2.52. Weibo has a 1 year low of $43.50 and a 1 year high of $123.00.
Institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in shares of Weibo in the third quarter valued at about $1,640,000. Neuberger Berman Group LLC purchased a new stake in shares of Weibo in the third quarter valued at about $1,414,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Weibo by 14.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,413 shares of the information services provider’s stock worth $436,000 after buying an additional 542 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Weibo by 23.6% during the third quarter. Janus Henderson Group PLC now owns 376,032 shares of the information services provider’s stock worth $37,199,000 after buying an additional 71,677 shares in the last quarter. Finally, Cowen Inc. boosted its holdings in Weibo by 254.4% during the third quarter. Cowen Inc. now owns 25,000 shares of the information services provider’s stock worth $2,474,000 after buying an additional 41,193 shares in the last quarter. 21.95% of the stock is currently owned by institutional investors.
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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.
