BidaskClub Lowers Weibo Corporation (WB) to Buy

BidaskClub downgraded shares of Weibo Corporation (NASDAQ:WB) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Weibo Corporation from a strong-buy rating to a hold rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a buy rating and set a $82.00 price target on shares of Weibo Corporation in a research report on Thursday, July 27th. Citigroup Inc. reaffirmed a buy rating and set a $126.00 price target (up previously from $102.00) on shares of Weibo Corporation in a research report on Thursday, September 14th. Barclays PLC set a $100.00 price target on shares of Weibo Corporation and gave the stock an overweight rating in a research report on Friday, August 11th. Finally, Instinet reaffirmed a buy rating and set a $102.00 price target (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Weibo Corporation presently has an average rating of Buy and an average target price of $85.28.

Shares of Weibo Corporation (NASDAQ WB) opened at 99.72 on Friday. Weibo Corporation has a one year low of $40.12 and a one year high of $108.30. The stock’s 50 day moving average is $101.13 and its 200-day moving average is $76.88.

Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 23.22% and a return on equity of 24.45%. The company’s quarterly revenue was up 72.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that Weibo Corporation will post $1.64 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in the company. Harding Loevner LP increased its position in shares of Weibo Corporation by 23.7% in the second quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock worth $233,037,000 after acquiring an additional 672,381 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Weibo Corporation by 30.2% in the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after acquiring an additional 396,281 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Weibo Corporation by 36.9% in the second quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock worth $82,378,000 after acquiring an additional 334,095 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Weibo Corporation in the second quarter worth $63,749,000. Finally, State Street Corp increased its position in shares of Weibo Corporation by 7.5% in the second quarter. State Street Corp now owns 551,325 shares of the information services provider’s stock worth $36,645,000 after acquiring an additional 38,294 shares in the last quarter. 19.56% of the stock is owned by institutional investors.

About Weibo Corporation

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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