Shares of Weibo Corporation (NASDAQ:WB – Get Free Report) have been given an average rating of “Reduce” by the six analysts that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $8.80.
A number of analysts have recently issued reports on WB shares. Bank of America restated an “underperform” rating on shares of Weibo in a research note on Friday, August 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a research note on Friday, July 24th. Zacks Research lowered shares of Weibo from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 24th. Citigroup cut shares of Weibo from a “buy” rating to a “neutral” rating and lowered their price target for the company from $9.30 to $7.80 in a report on Thursday, August 20th. Finally, Benchmark restated a “hold” rating on shares of Weibo in a research report on Thursday, August 20th.
View Our Latest Stock Report on WB
Hedge Funds Weigh In On Weibo
A number of large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Weibo by 337.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after purchasing an additional 2,990 shares during the last quarter. Nykredit A S acquired a new position in Weibo in the 2nd quarter valued at $93,000. QRG Capital Management Inc. grew its holdings in Weibo by 15.2% in the 2nd quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock valued at $170,000 after buying an additional 3,090 shares in the last quarter. Tidal Investments LLC bought a new position in Weibo during the 2nd quarter worth $208,000. Finally, Bank of America Corp DE increased its position in Weibo by 45.9% during the 1st quarter. Bank of America Corp DE now owns 35,307 shares of the information services provider’s stock worth $309,000 after buying an additional 11,109 shares during the period. Institutional investors own 68.77% of the company’s stock.
Weibo Stock Up 0.6%
WB opened at $6.55 on Friday. Weibo has a 1-year low of $6.27 and a 1-year high of $11.61. The stock’s fifty day simple moving average is $6.85 and its 200 day simple moving average is $7.63. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1.61 billion, a PE ratio of 5.01 and a beta of 0.17.
Weibo (NASDAQ:WB – Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Weibo had a return on equity of 8.87% and a net margin of 17.78%. The business had revenue of $453.83 million during the quarter, compared to the consensus estimate of $442.45 million. As a group, research analysts expect that Weibo will post 1.02 earnings per share for the current year.
Weibo Company Profile
Weibo Corp. (NASDAQ: WB) operates a Chinese-language social media platform that enables users to create, share and discover content through short posts, videos, images, live streams and other multimedia formats. The platform supports public conversations, following relationships, trending topics and content distribution across entertainment, news, sports, technology and other categories.
Weibo generates revenue primarily through advertising and marketing services, including promoted content and brand campaigns.
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