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.
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.
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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