Zacks Investment Research reissued their buy rating on shares of Weibo (NASDAQ:WB) in a research report released on Saturday morning, Zacks.com reports. Zacks Investment Research currently has a $54.00 target price on the information services provider’s stock.
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. “
A number of other research firms also recently issued reports on WB. BidaskClub upgraded shares of Weibo from a hold rating to a buy rating in a report on Wednesday, October 16th. Barclays set a $55.00 price objective on shares of Weibo and gave the stock a buy rating in a report on Wednesday, August 21st. ValuEngine upgraded shares of Weibo from a sell rating to a hold rating in a report on Wednesday, October 2nd. Nomura set a $48.00 price objective on shares of Weibo and gave the stock a hold rating in a report on Wednesday, August 21st. Finally, Jefferies Financial Group upgraded shares of Weibo from a hold rating to a buy rating and set a $59.00 price objective for the company in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $55.73.
Weibo (NASDAQ:WB) last announced its earnings results on Monday, August 19th. The information services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The company had revenue of $431.80 million during the quarter, compared to the consensus estimate of $434.79 million. Weibo had a net margin of 33.01% and a return on equity of 32.08%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. As a group, research analysts expect that Weibo will post 2.4 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in WB. Private Capital Group LLC bought a new stake in Weibo during the second quarter valued at approximately $36,000. North Star Investment Management Corp. bought a new stake in Weibo during the third quarter valued at approximately $85,000. Redhawk Wealth Advisors Inc. bought a new stake in Weibo during the second quarter valued at approximately $144,000. NN Investment Partners Holdings N.V. lifted its position in Weibo by 48.1% during the second quarter. NN Investment Partners Holdings N.V. now owns 4,000 shares of the information services provider’s stock valued at $174,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in Weibo during the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 25.81% of the company’s stock.
Weibo Company Profile
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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