Weibo Co. (NASDAQ:WB) hit a new 52-week high during trading on Tuesday . The stock traded as high as $111.46 and last traded at $108.58, with a volume of 1751600 shares trading hands. The stock had previously closed at $105.16.
Several equities research analysts have recently commented on WB shares. Zacks Investment Research downgraded Weibo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Weibo in a report on Thursday, July 27th. BidaskClub downgraded Weibo from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Citigroup Inc. reissued a “buy” rating and issued a $126.00 price objective (up from $102.00) on shares of Weibo in a research note on Thursday, September 14th. Finally, Benchmark Co. reduced their price objective on Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Ten investment analysts have rated the stock with a buy rating, Weibo has an average rating of “Buy” and a consensus target price of $91.17.
The firm has a market cap of $23,263.18, a P/E ratio of 89.12 and a beta of 2.50.
Weibo (NASDAQ:WB) last issued its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Weibo had a return on equity of 41.72% and a net margin of 31.46%. The company had revenue of $320.00 million for the quarter, compared to analyst estimates of $297.20 million. During the same period in the prior year, the firm posted $0.24 EPS. The business’s revenue was up 80.9% compared to the same quarter last year. analysts anticipate that Weibo Co. will post 1.49 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of WB. Harding Loevner LP increased its position in Weibo by 2,621.2% in the 3rd quarter. Harding Loevner LP now owns 95,403,043 shares of the information services provider’s stock worth $476,760,000 after purchasing an additional 91,897,142 shares during the last quarter. BT Investment Management Ltd acquired a new position in Weibo in the 2nd quarter worth about $63,749,000. Schroder Investment Management Group increased its position in Weibo by 31.1% in the 3rd quarter. Schroder Investment Management Group now owns 2,300,656 shares of the information services provider’s stock worth $225,672,000 after purchasing an additional 545,683 shares during the last quarter. Platinum Investment Management Ltd. acquired a new position in Weibo in the 2nd quarter worth about $27,010,000. Finally, Acadian Asset Management LLC increased its position in Weibo by 30.2% in the 2nd quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after purchasing an additional 396,281 shares during the last quarter. 19.54% of the stock is currently owned by institutional investors.
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Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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