Weibo Corporation (NASDAQ:WB) Stock Has Average Price Target of $8.80

Weibo Corporation (NASDAQ:WB) has been assigned a consensus rating of “Reduce” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.80.

WB has been the subject of a number of research reports. Citigroup downgraded Weibo from a “buy” rating to a “neutral” rating and lowered their target price for the company from $9.30 to $7.80 in a research report on Thursday, August 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a research report on Friday, July 24th. Benchmark restated a “hold” rating on shares of Weibo in a report on Thursday, August 20th. Zacks Research cut shares of Weibo from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 24th. Finally, Bank of America reiterated an “underperform” rating on shares of Weibo in a research report on Friday, August 21st.

Hedge Funds Weigh In On Weibo

Several large investors have recently modified their holdings of WB. EverSource Wealth Advisors LLC lifted its stake in Weibo by 337.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after purchasing an additional 2,990 shares during the last quarter. Nykredit A S bought a new stake in shares of Weibo during the 2nd quarter worth approximately $93,000. QRG Capital Management Inc. lifted its stake in shares of Weibo by 15.2% during the 2nd quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock worth $170,000 after acquiring an additional 3,090 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Weibo during the 2nd quarter worth approximately $208,000. Finally, Bank of America Corp DE grew its position in Weibo by 45.9% in the 1st quarter. Bank of America Corp DE now owns 35,307 shares of the information services provider’s stock valued at $309,000 after acquiring an additional 11,109 shares during the last quarter. Institutional investors own 68.77% of the company’s stock.

Weibo Stock Performance

Shares of NASDAQ WB opened at $6.54 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market cap of $1.61 billion, a P/E ratio of 5.41 and a beta of 0.17. The firm’s fifty day moving average is $6.97 and its two-hundred day moving average is $7.69. Weibo has a 52-week low of $6.27 and a 52-week high of $12.34.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Weibo had a net margin of 17.78% and a return on equity of 8.87%. The business had revenue of $453.83 million during the quarter, compared to the consensus estimate of $442.45 million. As a group, analysts anticipate that Weibo will post 1.02 EPS for the current fiscal year.

About Weibo

Weibo Corp. (NASDAQ: WB) operates a Chinese-language social media platform that enables users to create, share and discover content through short posts, videos, images, live streams and other multimedia formats. The platform supports public conversations, following relationships, trending topics and content distribution across entertainment, news, sports, technology and other categories.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and brand campaigns.