Weibo (WB) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Weibo (NASDAQ:WB) posted its earnings results on Tuesday. The information services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05, Morningstar.com reports. The company had revenue of $377.40 million for the quarter, compared to analysts’ expectations of $362.04 million. Weibo had a return on equity of 30.00% and a net margin of 26.85%. Weibo’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share.

Shares of Weibo (NASDAQ WB) traded up $2.96 on Tuesday, reaching $118.31. 2,440,900 shares of the company’s stock traded hands, compared to its average volume of 1,910,321. Weibo has a twelve month low of $47.36 and a twelve month high of $136.19. The stock has a market capitalization of $25,517.38, a price-to-earnings ratio of 100.26 and a beta of 2.65.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Liberty Mutual Group Asset Management Inc. purchased a new stake in Weibo in the fourth quarter worth about $218,000. YorkBridge Wealth Partners LLC lifted its holdings in Weibo by 70.2% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock worth $212,000 after buying an additional 743 shares during the period. Navellier & Associates Inc purchased a new stake in Weibo in the fourth quarter worth about $7,387,000. Standard Life Aberdeen plc lifted its holdings in Weibo by 30.5% in the fourth quarter. Standard Life Aberdeen plc now owns 3,420 shares of the information services provider’s stock worth $354,000 after buying an additional 800 shares during the period. Finally, First Republic Investment Management Inc. lifted its holdings in Weibo by 79.1% in the fourth quarter. First Republic Investment Management Inc. now owns 6,302 shares of the information services provider’s stock worth $652,000 after buying an additional 2,784 shares during the period. Institutional investors and hedge funds own 22.14% of the company’s stock.

Several analysts recently issued reports on WB shares. BidaskClub raised Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Benchmark cut their target price on Weibo from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Barclays raised their target price on Weibo from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Zacks Investment Research cut Weibo from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, Morgan Stanley started coverage on Weibo in a research note on Friday, January 5th. They issued an “overweight” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Weibo has an average rating of “Buy” and a consensus price target of $104.85.

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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.

Earnings History for Weibo (NASDAQ:WB)

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