Weibo Co. (NASDAQ:WB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $118.00 price objective on the information services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 3.85% from the stock’s current price.
According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “
Other equities analysts have also recently issued reports about the company. BidaskClub cut Weibo from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Jefferies Group LLC restated a “buy” rating and set a $82.00 target price on shares of Weibo in a research report on Thursday, July 27th. Barclays PLC set a $100.00 target price on Weibo and gave the stock an “overweight” rating in a research report on Friday, August 11th. Citigroup Inc. restated a “buy” rating and set a $126.00 target price (up from $102.00) on shares of Weibo in a research report on Thursday, September 14th. Finally, Benchmark Co. reduced their target price on Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Ten research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $91.17.
Weibo (WB) traded up $5.05 during trading hours on Tuesday, hitting $113.63. The company had a trading volume of 1,160,769 shares, compared to its average volume of 2,029,311. Weibo has a 12 month low of $40.12 and a 12 month high of $110.48. The company has a market cap of $23,263.18, a price-to-earnings ratio of 89.12 and a beta of 2.50.
Weibo (NASDAQ:WB) last released its quarterly earnings data on Tuesday, November 7th. The information services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. Weibo had a return on equity of 41.72% and a net margin of 31.46%. The company had revenue of $320.00 million for the quarter, compared to analyst estimates of $297.20 million. During the same period in the previous year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 80.9% compared to the same quarter last year. equities analysts forecast that Weibo will post 1.49 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. NEXT Financial Group Inc boosted its holdings in shares of Weibo by 9,900.0% in the 3rd quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock worth $100,000 after purchasing an additional 990 shares in the last quarter. YorkBridge Wealth Partners LLC purchased a new position in shares of Weibo in the 3rd quarter worth about $105,000. Risk Paradigm Group LLC purchased a new position in shares of Weibo in the 3rd quarter worth about $109,000. Castleark Management LLC purchased a new position in shares of Weibo in the 2nd quarter worth about $110,000. Finally, Catamount Wealth Management purchased a new position in shares of Weibo in the 2nd quarter worth about $113,000. Hedge funds and other institutional investors own 19.54% of the company’s stock.
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.
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