Brokerages Set Weibo Corp (NASDAQ:WB) Price Target at $50.59

Weibo Corp (NASDAQ:WB) has received a consensus recommendation of “Hold” from the fifteen brokerages that are covering the company, reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $50.59.

A number of equities research analysts have recently commented on WB shares. ValuEngine upgraded shares of Weibo from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Zacks Investment Research upgraded shares of Weibo from a “strong sell” rating to a “hold” rating in a report on Tuesday. BidaskClub cut Weibo from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Credit Suisse Group downgraded Weibo from an “outperform” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group raised Weibo from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Friday, October 18th.

Shares of WB traded down $1.00 during trading hours on Tuesday, hitting $43.50. The company had a trading volume of 52,992 shares, compared to its average volume of 1,857,292. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 17.43 and a beta of 2.14. The firm has a fifty day moving average price of $46.57 and a 200-day moving average price of $44.86. Weibo has a 52-week low of $34.26 and a 52-week high of $74.68. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.51 and a current ratio of 4.51.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Thursday, November 14th. The information services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $467.75 million during the quarter, compared to analyst estimates of $471.84 million. Weibo had a net margin of 31.79% and a return on equity of 28.88%. Weibo’s revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS. Research analysts anticipate that Weibo will post 2.25 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of WB. Strs Ohio purchased a new stake in shares of Weibo during the 4th quarter valued at about $746,000. Exane Derivatives lifted its position in Weibo by 88.7% during the fourth quarter. Exane Derivatives now owns 10,891 shares of the information services provider’s stock valued at $548,000 after purchasing an additional 5,118 shares in the last quarter. CenterStar Asset Management LLC purchased a new position in Weibo during the fourth quarter valued at $62,000. DNB Asset Management AS bought a new stake in Weibo during the fourth quarter valued at about $12,706,000. Finally, Nomura Holdings Inc. grew its holdings in Weibo by 7.1% during the third quarter. Nomura Holdings Inc. now owns 208,330 shares of the information services provider’s stock valued at $9,276,000 after purchasing an additional 13,722 shares during the period. Institutional investors own 26.57% of the company’s stock.

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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