Weibo (WB) Releases Earnings Results, Beats Estimates By $0.05 EPS

Weibo (NASDAQ:WB) released its earnings results on Tuesday. The information services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05, Morningstar.com reports. The firm had revenue of $377.40 million during the quarter, compared to the consensus estimate of $362.04 million. Weibo had a net margin of 30.66% and a return on equity of 38.19%. The company’s revenue was up 77.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS.

Weibo (NASDAQ:WB) opened at $139.64 on Thursday. Weibo has a fifty-two week low of $47.36 and a fifty-two week high of $140.00. The company has a market cap of $28,683.00, a price-to-earnings ratio of 82.59 and a beta of 2.65.

A number of large investors have recently made changes to their positions in WB. Teachers Advisors LLC boosted its holdings in Weibo by 20.2% in the 2nd quarter. Teachers Advisors LLC now owns 15,267 shares of the information services provider’s stock valued at $1,015,000 after purchasing an additional 2,567 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Weibo by 58.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 61,747 shares of the information services provider’s stock valued at $4,104,000 after purchasing an additional 22,747 shares during the period. Ameriprise Financial Inc. boosted its holdings in Weibo by 38.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 80,097 shares of the information services provider’s stock valued at $5,325,000 after purchasing an additional 22,144 shares during the period. FMR LLC boosted its holdings in Weibo by 31.7% in the 2nd quarter. FMR LLC now owns 13,135 shares of the information services provider’s stock valued at $873,000 after purchasing an additional 3,165 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in Weibo by 69.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 36,210 shares of the information services provider’s stock valued at $2,407,000 after purchasing an additional 14,892 shares during the period. 22.14% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on WB shares. UBS Group started coverage on shares of Weibo in a report on Tuesday, January 2nd. They issued a “buy” rating and a $125.00 price objective for the company. BidaskClub raised shares of Weibo from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research raised shares of Weibo from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Tuesday, November 14th. Benchmark cut their price objective on shares of Weibo from $110.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, Barclays raised their price objective on shares of Weibo from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $111.65.

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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.

Earnings History for Weibo (NASDAQ:WB)

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