JPMorgan Chase & Co. Increases Weibo (WB) Price Target to $140.00

Weibo (NASDAQ:WB) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $135.00 to $140.00 in a research report issued on Thursday. The firm presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 0.26% from the stock’s previous close.

Several other research analysts also recently issued reports on WB. Benchmark upped their price target on shares of Weibo from $110.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays reiterated an “overweight” rating and set a $150.00 price target on shares of Weibo in a report on Wednesday. BidaskClub upgraded shares of Weibo from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. ValuEngine downgraded shares of Weibo from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Weibo from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. Weibo currently has an average rating of “Buy” and an average price target of $114.23.

Shares of Weibo (NASDAQ WB) traded up $9.98 on Thursday, reaching $139.64. 4,045,000 shares of the company’s stock traded hands, compared to its average volume of 2,003,923. Weibo has a 1-year low of $47.36 and a 1-year high of $141.98. The firm has a market capitalization of $30,300.00, a P/E ratio of 90.09 and a beta of 2.63.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Tuesday, February 13th. The information services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. Weibo had a net margin of 30.66% and a return on equity of 38.19%. The business had revenue of $377.40 million during the quarter, compared to the consensus estimate of $362.04 million. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue was up 77.4% on a year-over-year basis. research analysts predict that Weibo will post 2.61 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of WB. Teachers Advisors LLC increased its holdings in Weibo by 20.2% in the second quarter. Teachers Advisors LLC now owns 15,267 shares of the information services provider’s stock valued at $1,015,000 after purchasing an additional 2,567 shares during the period. TIAA CREF Investment Management LLC increased its holdings in Weibo by 58.3% in the second quarter. TIAA CREF Investment Management LLC now owns 61,747 shares of the information services provider’s stock valued at $4,104,000 after purchasing an additional 22,747 shares during the period. Ameriprise Financial Inc. increased its holdings in Weibo by 38.2% in the second quarter. Ameriprise Financial Inc. now owns 80,097 shares of the information services provider’s stock valued at $5,325,000 after purchasing an additional 22,144 shares during the period. FMR LLC increased its holdings in Weibo by 31.7% in the second quarter. FMR LLC now owns 13,135 shares of the information services provider’s stock valued at $873,000 after purchasing an additional 3,165 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in Weibo by 69.9% in the second quarter. Parametric Portfolio Associates LLC now owns 36,210 shares of the information services provider’s stock valued at $2,407,000 after purchasing an additional 14,892 shares during the period. Institutional investors and hedge funds own 22.14% of the company’s stock.

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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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