Shares of Weibo Corp (NASDAQ:WB) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $86.60.
WB has been the topic of several analyst reports. BidaskClub upgraded shares of Weibo from a “strong sell” rating to a “sell” rating in a report on Saturday, November 3rd. Barclays set a $90.00 price target on shares of Weibo and gave the stock a “buy” rating in a report on Thursday, October 18th. Morgan Stanley cut shares of Weibo from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 8th. ValuEngine cut shares of Weibo from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Jefferies Financial Group cut their price target on shares of Weibo to $90.00 and set a “buy” rating on the stock in a report on Monday, November 5th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Korea Investment CORP raised its position in shares of Weibo by 236.8% in the second quarter. Korea Investment CORP now owns 22,900 shares of the information services provider’s stock valued at $2,033,000 after purchasing an additional 16,100 shares during the period. Vident Investment Advisory LLC bought a new stake in Weibo during the 2nd quarter worth approximately $1,078,000. Schwab Charles Investment Management Inc. increased its holdings in shares of 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 buying an additional 13,954 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of 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 buying an additional 223,790 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Weibo by 2.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,589,018 shares of the information services provider’s stock worth $116,205,000 after buying an additional 43,099 shares during the last quarter. Hedge funds and other institutional investors own 23.44% of the company’s stock.
Weibo (NASDAQ:WB) last released its quarterly earnings results on Wednesday, November 28th. The information services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Weibo had a net margin of 33.23% and a return on equity of 38.71%. The business had revenue of $460.20 million for the quarter, compared to analysts’ expectations of $459.68 million. During the same period in the previous year, the company earned $0.51 earnings per share. The firm’s revenue for the quarter was up 43.8% compared to the same quarter last year. On average, equities analysts predict that Weibo will post 2.5 earnings per share for the current fiscal 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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