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

Weibo Co. (NASDAQ:WB) has been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.23.

A number of brokerages have weighed in on WB. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Morgan Stanley lowered their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Nomura Securities raised Weibo to a “hold” rating in a research report on Monday, August 26th. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Citigroup raised their price objective on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th.

Institutional Investors Weigh In On Weibo

Hedge funds have recently bought and sold shares of the business. Krane Funds Advisors LLC raised its holdings in shares of Weibo by 17.4% during 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 in the last quarter. Acadian Asset Management LLC increased its holdings in Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock worth $18,678,000 after buying an additional 1,634,230 shares during the last quarter. Canada Pension Plan Investment Board raised its position 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 acquiring an additional 511,248 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Weibo by 1.7% in the third quarter. Two Sigma Advisers LP now owns 1,153,088 shares of the information services provider’s stock valued at $11,623,000 after acquiring an additional 19,200 shares during the last quarter. Finally, State Street Corp grew its position in Weibo by 0.7% in the third quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after acquiring an additional 6,369 shares in the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Stock Down 1.0 %

WB stock opened at $10.36 on Wednesday. Weibo has a one year low of $7.03 and a one year high of $12.40. The stock has a market capitalization of $2.43 billion, a P/E ratio of 7.10 and a beta of 0.27. The company has a 50 day moving average price of $9.38 and a two-hundred day moving average price of $8.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57.

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.