Jefferies Financial Group Cuts Weibo (WB) Price Target to $90.00

Weibo (NASDAQ:WB) had its price objective decreased by Jefferies Financial Group to $90.00 in a report issued on Monday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the information services provider’s stock. Jefferies Financial Group also issued estimates for Weibo’s Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.72 EPS, FY2018 earnings at $2.42 EPS, FY2019 earnings at $3.16 EPS and FY2020 earnings at $4.14 EPS.

A number of other research firms also recently commented on WB. Zacks Investment Research downgraded shares of Weibo from a buy rating to a hold rating in a report on Sunday, July 15th. Barclays reissued a buy rating and set a $130.00 price target (down previously from $150.00) on shares of Weibo in a report on Sunday, July 29th. ValuEngine downgraded shares of Weibo from a hold rating to a sell rating in a report on Tuesday, August 7th. OTR Global started coverage on shares of Weibo in a report on Monday, August 6th. They set a positive rating for the company. Finally, BidaskClub downgraded shares of Weibo from a hold rating to a sell rating in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Weibo has an average rating of Hold and a consensus price target of $112.00.

Weibo stock traded down $3.93 during mid-day trading on Monday, reaching $61.16. The company’s stock had a trading volume of 677,072 shares, compared to its average volume of 2,837,357. The company has a market cap of $14.38 billion, a PE ratio of 39.21 and a beta of 2.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.97 and a quick ratio of 3.97. Weibo has a twelve month low of $53.11 and a twelve month high of $142.12.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $426.60 million during the quarter, compared to the consensus estimate of $426.54 million. Weibo had a net margin of 32.03% and a return on equity of 37.75%. The firm’s revenue was up 68.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. Equities research analysts anticipate that Weibo will post 2.44 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Korea Investment CORP raised its position in Weibo by 236.8% in the second quarter. Korea Investment CORP now owns 22,900 shares of the information services provider’s stock worth $2,033,000 after acquiring an additional 16,100 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in Weibo in the 2nd quarter worth about $1,078,000. Schwab Charles Investment Management Inc. increased its stake in Weibo by 52.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,503 shares of the information services provider’s stock worth $3,596,000 after purchasing an additional 13,954 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Weibo by 898.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 248,690 shares of the information services provider’s stock worth $22,074,000 after purchasing an additional 223,790 shares in the last quarter. Finally, BB&T Corp increased its stake in Weibo by 6.7% in the 2nd 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. Hedge funds and other institutional investors own 24.14% of the company’s stock.

About Weibo

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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