JPMorgan Chase & Co. Boosts Weibo (WB) Price Target to $140.00

Weibo (NASDAQ:WB) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $135.00 to $140.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 0.26% from the stock’s current price.

Several other brokerages have also recently weighed in on WB. Benchmark upped their target price on Weibo from $110.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays reiterated an “overweight” rating and issued a $150.00 target price on shares of Weibo in a report on Wednesday. Zacks Investment Research upgraded Weibo from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. BidaskClub upgraded Weibo from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Finally, Morgan Stanley assumed coverage on Weibo in a report on Friday, January 5th. They issued an “overweight” rating and a $130.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $114.23.

Shares of Weibo (NASDAQ:WB) traded up $9.98 during mid-day trading on Thursday, hitting $139.64. The company’s stock had a trading volume of 4,045,000 shares, compared to its average volume of 2,002,400. Weibo has a twelve month low of $47.36 and a twelve month high of $141.98. The stock has a market cap of $30,300.00, a PE ratio of 90.09 and a beta of 2.63.

Weibo (NASDAQ:WB) last issued its earnings results on Tuesday, February 13th. The information services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Weibo had a return on equity of 38.19% and a net margin of 30.66%. The business had revenue of $377.40 million during the quarter, compared to analysts’ expectations of $362.04 million. During the same period in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. equities analysts anticipate that Weibo will post 2.61 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Platinum Investment Management Ltd. raised its stake in Weibo by 21.9% in the fourth quarter. Platinum Investment Management Ltd. now owns 400,016 shares of the information services provider’s stock valued at $41,385,000 after buying an additional 71,990 shares during the last quarter. LPL Financial LLC raised its stake in Weibo by 49.5% in the fourth quarter. LPL Financial LLC now owns 22,606 shares of the information services provider’s stock valued at $2,339,000 after buying an additional 7,485 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Weibo by 32.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,835 shares of the information services provider’s stock valued at $603,000 after buying an additional 1,422 shares during the last quarter. G&S Capital LLC purchased a new stake in Weibo in the fourth quarter valued at about $576,000. Finally, TIAA CREF Investment Management LLC raised its stake in Weibo by 75.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 214,256 shares of the information services provider’s stock valued at $22,167,000 after buying an additional 92,100 shares during the last quarter. Hedge funds and other institutional investors own 22.14% of the company’s stock.

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Weibo 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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