Weibo Corporation (NASDAQ:WB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $118.00 target price on the information services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.14% from the stock’s previous close.
According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “
WB has been the subject of several other reports. Barclays PLC set a $100.00 target price on Weibo Corporation and gave the stock an “overweight” rating in a research note on Friday, August 11th. BidaskClub cut Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 7th. Instinet reissued a “buy” rating and set a $102.00 target price (up from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Jefferies Group LLC lowered their target price on Weibo Corporation from $105.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Finally, Citigroup Inc. reissued a “buy” rating and set a $126.00 target price (up from $102.00) on shares of Weibo Corporation in a research note on Thursday, September 14th. Ten investment analysts have rated the stock with a buy rating, Weibo Corporation presently has an average rating of “Buy” and a consensus target price of $93.39.
Weibo Corporation (NASDAQ:WB) last posted its quarterly earnings data on Tuesday, November 7th. The information services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The firm had revenue of $320.00 million for the quarter, compared to the consensus estimate of $297.20 million. Weibo Corporation had a return on equity of 30.00% and a net margin of 26.85%. The company’s quarterly revenue was up 80.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. analysts expect that Weibo Corporation will post 1.49 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in WB. NEXT Financial Group Inc boosted its position in shares of Weibo Corporation by 9,900.0% during the 3rd quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock worth $100,000 after acquiring an additional 990 shares in the last quarter. YorkBridge Wealth Partners LLC acquired a new position in shares of Weibo Corporation during the 3rd quarter worth about $105,000. Risk Paradigm Group LLC acquired a new position in shares of Weibo Corporation during the 3rd quarter worth about $109,000. Castleark Management LLC acquired a new position in shares of Weibo Corporation during the 2nd quarter worth about $110,000. Finally, Catamount Wealth Management acquired a new position in shares of Weibo Corporation during the 2nd quarter worth about $113,000. 19.54% of the stock is owned by institutional investors and hedge funds.
Weibo Corporation Company Profile
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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