Weibo (NASDAQ:WB – Get Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
Several other equities analysts also recently weighed in on the company. Morgan Stanley dropped their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Citigroup raised their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Nomura Securities upgraded Weibo to a “hold” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.23.
Get Our Latest Research Report on Weibo
Weibo Price Performance
Weibo (NASDAQ:WB – Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. Weibo’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. Analysts forecast that Weibo will post 1.48 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deltec Asset Management LLC purchased a new position in Weibo in the second quarter valued at about $82,000. Bayesian Capital Management LP purchased a new position in Weibo in the first quarter valued at about $123,000. Seven Eight Capital LP purchased a new position in Weibo in the second quarter valued at about $110,000. XY Capital Ltd purchased a new position in Weibo in the first quarter valued at about $140,000. Finally, Diversified Trust Co purchased a new position in Weibo in the third quarter valued at about $194,000. Institutional investors and hedge funds own 68.77% of the company’s stock.
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.
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