Weibo (WB) Downgraded to “Reduce” at HSBC

Weibo (NASDAQ:WB) was downgraded by investment analysts at HSBC from a “hold” rating to a “reduce” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They presently have a $45.54 target price on the information services provider’s stock. HSBC’s price objective indicates a potential upside of 4.31% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Weibo from a “buy” rating to a “hold” rating and dropped their price target for the company from $83.00 to $58.00 in a research report on Thursday, January 24th. BidaskClub raised shares of Weibo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Deutsche Bank cut shares of Weibo from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Barclays reaffirmed a “buy” rating and issued a $75.00 price target on shares of Weibo in a research report on Monday, March 11th. Finally, Zacks Investment Research raised shares of Weibo from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Weibo presently has a consensus rating of “Hold” and an average price target of $70.17.

Shares of WB opened at $43.66 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.92 and a quick ratio of 3.92. The stock has a market capitalization of $9.72 billion, a PE ratio of 17.33, a PEG ratio of 0.85 and a beta of 2.03. Weibo has a one year low of $42.70 and a one year high of $112.03.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, May 23rd. The information services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.06. The company had revenue of $399.18 million during the quarter, compared to the consensus estimate of $399.65 million. Weibo had a return on equity of 37.53% and a net margin of 33.27%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. On average, sell-side analysts forecast that Weibo will post 2.93 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Genesis Asset Managers LLP lifted its position in shares of Weibo by 92.7% during the 1st quarter. Genesis Asset Managers LLP now owns 3,436,337 shares of the information services provider’s stock worth $112,540,000 after buying an additional 1,652,676 shares in the last quarter. BlackRock Inc. lifted its position in shares of Weibo by 6.2% during the 1st quarter. BlackRock Inc. now owns 2,946,015 shares of the information services provider’s stock worth $182,623,000 after buying an additional 172,569 shares in the last quarter. Platinum Investment Management Ltd. lifted its position in shares of Weibo by 118.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 2,768,481 shares of the information services provider’s stock worth $171,618,000 after buying an additional 1,498,519 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of Weibo during the 4th quarter worth approximately $161,521,000. Finally, Federated Investors Inc. PA lifted its position in shares of Weibo by 21.3% during the 1st quarter. Federated Investors Inc. PA now owns 2,143,962 shares of the information services provider’s stock worth $132,904,000 after buying an additional 376,126 shares in the last quarter. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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Analyst Recommendations for Weibo (NASDAQ:WB)

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