Brokerages Set Weibo Co. (NASDAQ:WB) Target Price at $10.23

Shares of Weibo Co. (NASDAQ:WB) have earned a consensus rating of “Hold” from the seven analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.23.

Several equities analysts have recently issued reports on WB shares. StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Nomura Securities upgraded Weibo to a “hold” rating in a research report on Monday, August 26th. Citigroup increased their price target on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Morgan Stanley decreased their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, August 23rd.

Weibo Stock Performance

NASDAQ:WB opened at $9.04 on Tuesday. The stock has a market cap of $2.12 billion, a P/E ratio of 7.06, a PEG ratio of 1.56 and a beta of 0.23. The stock has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $8.46. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. Weibo has a 1-year low of $7.03 and a 1-year high of $12.65.

Weibo (NASDAQ:WB) last announced its quarterly earnings data 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. The firm had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. Research analysts anticipate that Weibo will post 1.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in Weibo in the second quarter worth $1,398,000. Krane Funds Advisors LLC boosted its holdings in shares of Weibo by 17.4% in the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after acquiring an additional 564,068 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Weibo by 65.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider’s stock valued at $1,082,000 after buying an additional 46,898 shares during the period. Canada Pension Plan Investment Board boosted its stake in Weibo by 64.1% during the second 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 during the period. Finally, Lazard Asset Management LLC boosted its stake in Weibo by 9.9% during the first quarter. Lazard Asset Management LLC now owns 207,646 shares of the information services provider’s stock valued at $1,887,000 after buying an additional 18,630 shares during the period. Institutional investors 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, discover, and distribute 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.