Weibo (NASDAQ:WB) Given “Hold” Rating at Benchmark

Benchmark reissued their hold rating on shares of Weibo (NASDAQ:WB) in a report published on Wednesday morning,Benzinga reports.

A number of other brokerages have also recently issued reports on WB. Nomura Securities raised shares of Weibo to a “hold” rating in a research report on Monday, August 26th. Morgan Stanley cut their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. StockNews.com cut Weibo from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Citigroup raised their target price on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Weibo currently has an average rating of “Hold” and a consensus target price of $10.23.

Weibo Price Performance

Shares of WB opened at $8.92 on Wednesday. The company’s 50-day moving average is $9.15 and its 200-day moving average is $8.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 2.34. The firm has a market capitalization of $2.09 billion, a PE ratio of 6.11 and a beta of 0.24. Weibo has a fifty-two week low of $7.03 and a fifty-two week high of $12.40.

Weibo (NASDAQ:WB) last issued 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 the consensus estimate of $437.97 million. Weibo had a net margin of 21.30% and a return on equity of 11.03%. The business’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. Equities analysts forecast that Weibo will post 1.48 EPS for the current year.

Hedge Funds Weigh In On Weibo

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Weibo by 78.1% in the third quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock valued at $2,252,000 after buying an additional 98,017 shares during the period. Barclays PLC increased its position in Weibo by 13.8% in the 3rd quarter. Barclays PLC now owns 212,919 shares of the information services provider’s stock valued at $2,146,000 after acquiring an additional 25,750 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Weibo in the 3rd quarter valued at approximately $3,696,000. Y Intercept Hong Kong Ltd bought a new position in shares of Weibo during the third quarter valued at $322,000. Finally, XTX Topco Ltd acquired a new position in shares of Weibo during the third quarter worth $349,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

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.