Brokerages forecast that Weibo Corp (NASDAQ:WB) will report $364.31 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Weibo’s earnings, with estimates ranging from $363.61 million to $365.00 million. Weibo reported sales of $212.75 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 71.2%. The business is scheduled to report its next earnings report on Wednesday, February 28th.

On average, analysts expect that Weibo will report full year sales of $364.31 million for the current year. For the next year, analysts anticipate that the company will post sales of $1.78 billion per share, with estimates ranging from $1.75 billion to $1.82 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Weibo.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $320.00 million during the quarter, compared to analyst estimates of $297.20 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 80.9% on a year-over-year basis.

Several brokerages have recently weighed in on WB. ValuEngine lowered Weibo from a “hold” rating to a “sell” rating in a report on Friday, December 1st. 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 report on Tuesday, November 14th. UBS Group began coverage on Weibo in a report on Tuesday, January 2nd. They issued a “buy” rating and a $125.00 price objective for the company. BidaskClub lowered Weibo from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 7th. Finally, Morgan Stanley began coverage on Weibo in a report on Friday. They issued an “overweight” rating and a $130.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $103.35.

Shares of Weibo (NASDAQ:WB) opened at $120.86 on Friday. The firm has a market capitalization of $26,736.29, a price-to-earnings ratio of 102.42 and a beta of 2.54. Weibo has a twelve month low of $44.15 and a twelve month high of $123.00.

Several institutional investors have recently made changes to their positions in WB. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Weibo by 40.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock valued at $708,000 after buying an additional 3,045 shares during the period. Oppenheimer Asset Management Inc. raised its position in Weibo by 740.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 27,335 shares of the information services provider’s stock valued at $2,705,000 after buying an additional 24,083 shares during the period. Nicholas Investment Partners LP acquired a new position in Weibo during the second quarter valued at $3,222,000. BT Investment Management Ltd acquired a new position in Weibo during the second quarter valued at $63,749,000. Finally, GSA Capital Partners LLP acquired a new position in Weibo during the third quarter valued at $1,640,000. 21.95% of the stock is currently owned by institutional investors.

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About Weibo

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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