Weibo Corp (WB) Receives $125.17 Average Target Price from Brokerages

Shares of Weibo Corp (NASDAQ:WB) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $125.17.

A number of research analysts have weighed in on WB shares. Jefferies Financial Group reduced their target price on Weibo from $145.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 9th. Barclays reaffirmed a “buy” rating and set a $130.00 target price (down previously from $150.00) on shares of Weibo in a report on Sunday, July 29th. Zacks Investment Research lowered Weibo from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. JPMorgan Chase & Co. started coverage on Weibo in a report on Wednesday, August 29th. They set an “overweight” rating and a $118.00 target price for the company. Finally, OTR Global started coverage on Weibo in a report on Monday, August 6th. They set a “positive” rating for the company.

Hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB grew its holdings in shares of Weibo by 8.2% during the first quarter. Xact Kapitalforvaltning AB now owns 7,943 shares of the information services provider’s stock worth $950,000 after purchasing an additional 600 shares in the last quarter. BB&T Corp grew its holdings in shares of Weibo by 6.7% during the second quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock worth $947,000 after purchasing an additional 667 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of Weibo by 43.8% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock worth $204,000 after purchasing an additional 700 shares in the last quarter. Andra AP fonden grew its holdings in shares of Weibo by 1.7% during the second quarter. Andra AP fonden now owns 41,700 shares of the information services provider’s stock worth $3,701,000 after purchasing an additional 700 shares in the last quarter. Finally, Dorsey Wright & Associates grew its holdings in shares of Weibo by 7.1% during the second quarter. Dorsey Wright & Associates now owns 11,492 shares of the information services provider’s stock worth $1,014,000 after purchasing an additional 761 shares in the last quarter. 24.17% of the stock is owned by institutional investors and hedge funds.

Shares of Weibo stock opened at $55.07 on Friday. Weibo has a 52-week low of $53.11 and a 52-week high of $142.12. The stock has a market capitalization of $12.64 billion, a P/E ratio of 35.30 and a beta of 2.33. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.61.

Weibo (NASDAQ:WB) last posted its earnings results on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. The business had revenue of $426.60 million during the quarter, compared to analyst estimates of $426.54 million. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The company’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, sell-side analysts forecast that Weibo will post 2.49 EPS for the current year.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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Analyst Recommendations for Weibo (NASDAQ:WB)

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