Analysts Set Weibo Co. (NASDAQ:WB) PT at $10.23

Shares of Weibo Co. (NASDAQ:WB) have been given a consensus rating of “Hold” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.23.

A number of analysts have recently commented on the company. Citigroup boosted their price target on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley dropped their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. StockNews.com cut Weibo from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Nomura Securities raised Weibo to a “hold” rating in a research report on Monday, August 26th.

Weibo Stock Performance

Shares of Weibo stock opened at $8.51 on Friday. Weibo has a 12 month low of $7.03 and a 12 month high of $12.47. The firm has a market capitalization of $1.99 billion, a P/E ratio of 6.72 and a beta of 0.24. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $8.98 and a two-hundred day simple moving average of $8.52.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The company had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. Weibo’s revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. On average, equities analysts forecast that Weibo will post 1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weibo

Several large investors have recently bought and sold shares of the business. Deltec Asset Management LLC purchased a new position in shares of Weibo in the 2nd quarter worth $82,000. Seven Eight Capital LP purchased a new position in Weibo in the second quarter worth about $110,000. Creative Planning bought a new stake in shares of Weibo during the 3rd quarter valued at about $112,000. Bayesian Capital Management LP purchased a new stake in shares of Weibo during the 1st quarter valued at about $123,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Weibo by 17.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares during the period. 68.77% of the stock is currently owned by institutional investors.

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.