Weibo Co. (NASDAQ:WB) Receives $9.88 Consensus Target Price from Brokerages

Weibo Co. (NASDAQ:WB) has been assigned an average recommendation of “Reduce” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.88.

WB has been the topic of several recent research reports. Morgan Stanley reduced their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Nomura Securities raised shares of Weibo to a “hold” rating in a research report on Monday, August 26th.

Institutional Trading of Weibo

Several large investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its position in Weibo by 56.1% during the second quarter. Millennium Management LLC now owns 726,940 shares of the information services provider’s stock valued at $5,583,000 after purchasing an additional 261,180 shares in the last quarter. Caxton Associates LP lifted its position in shares of Weibo by 55.9% during the 2nd quarter. Caxton Associates LP now owns 50,239 shares of the information services provider’s stock valued at $386,000 after buying an additional 18,008 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Weibo by 64.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock valued at $10,056,000 after buying an additional 511,248 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Weibo during the 2nd quarter valued at approximately $110,000. Finally, Hsbc Holdings PLC increased its holdings in Weibo by 42.1% in the 2nd quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider’s stock worth $460,000 after acquiring an additional 17,749 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors.

Weibo Trading Down 0.7 %

Shares of WB stock opened at $7.30 on Monday. The business has a 50-day moving average of $7.85 and a 200 day moving average of $8.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. Weibo has a 1-year low of $7.17 and a 1-year high of $13.54. The stock has a market capitalization of $1.71 billion, a PE ratio of 6.13, a P/E/G ratio of 1.26 and a beta of 0.22.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.10. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The business had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. During the same quarter in the prior year, the company posted $0.42 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Weibo will post 1.48 earnings per share 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 content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.