Weibo (NASDAQ:WB) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Weibo (NASDAQ:WB) from a hold rating to a buy rating in a research report released on Friday morning.

Several other analysts have also recently commented on WB. Nomura Securities upgraded shares of Weibo to a “hold” rating in a research note on Monday, August 26th. Morgan Stanley decreased their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, Citigroup increased 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Weibo has an average rating of “Hold” and an average target price of $10.23.

Weibo Stock Performance

Shares of WB stock opened at $9.27 on Friday. The business has a fifty day moving average of $8.60 and a 200 day moving average of $8.45. Weibo has a 1 year low of $7.03 and a 1 year high of $12.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 1.56 and a beta of 0.23.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, topping 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 revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. As a group, research analysts expect that Weibo will post 1.48 earnings per share for the current year.

Institutional Investors Weigh In On Weibo

Several hedge funds have recently modified their holdings of the company. Deltec Asset Management LLC purchased a new position in shares of Weibo during the 2nd quarter valued at approximately $82,000. Creative Planning acquired a new position in Weibo during the third quarter worth $112,000. Bayesian Capital Management LP purchased a new position in Weibo during the first quarter valued at $123,000. Seven Eight Capital LP acquired a new stake in shares of Weibo in the second quarter valued at about $110,000. Finally, Diversified Trust Co purchased a new stake in shares of Weibo during the third quarter worth about $194,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

About Weibo

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.