Weibo Corporation (NASDAQ:WB) Receives Consensus Rating of “Buy” from Analysts

Weibo Corporation (NASDAQ:WB) has earned an average rating of “Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $63.94.

Several analysts have commented on WB shares. Jefferies Group LLC restated a “buy” rating on shares of Weibo Corporation in a report on Monday, June 26th. T.H. Capital restated a “buy” rating and set a $70.00 target price (up from $60.00) on shares of Weibo Corporation in a report on Tuesday, May 9th. Zacks Investment Research cut shares of Weibo Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Vetr cut shares of Weibo Corporation from a “strong-buy” rating to a “buy” rating and set a $65.50 price target for the company. in a research note on Monday, May 8th. Finally, Benchmark Co. assumed coverage on shares of Weibo Corporation in a research note on Tuesday, April 18th. They set a “buy” rating and a $65.00 price target for the company.

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A number of hedge funds and other institutional investors have recently bought and sold shares of WB. Shell Asset Management Co. increased its position in shares of Weibo Corporation by 0.3% in the first quarter. Shell Asset Management Co. now owns 11,255 shares of the information services provider’s stock valued at $587,000 after buying an additional 29 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Weibo Corporation by 7.6% in the first quarter. Nationwide Fund Advisors now owns 33,634 shares of the information services provider’s stock valued at $1,755,000 after buying an additional 2,380 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Weibo Corporation by 224.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 209,000 shares of the information services provider’s stock valued at $10,906,000 after buying an additional 144,500 shares during the last quarter. Navellier & Associates Inc boosted its stake in Weibo Corporation by 41.9% in the first quarter. Navellier & Associates Inc now owns 93,269 shares of the information services provider’s stock valued at $4,867,000 after buying an additional 27,526 shares during the period. Finally, TB Alternative Assets Ltd. purchased a new stake in Weibo Corporation during the first quarter valued at $1,967,000. 16.79% of the stock is owned by institutional investors and hedge funds.

Weibo Corporation (NASDAQ:WB) traded up 1.12% during mid-day trading on Monday, hitting $87.23. The stock had a trading volume of 6,429,764 shares. Weibo Corporation has a one year low of $35.92 and a one year high of $87.40. The company has a 50 day moving average price of $72.96 and a 200-day moving average price of $60.98. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 132.57 and a beta of 2.66.

Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $253.37 million for the quarter, compared to the consensus estimate of $246.78 million. Weibo Corporation had a net margin of 20.10% and a return on equity of 20.00%. Weibo Corporation’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. Equities analysts expect that Weibo Corporation will post $1.50 earnings per share for the current fiscal year.

Weibo Corporation 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.

Analyst Recommendations for Weibo Corporation (NASDAQ:WB)

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