Weibo Corporation (NASDAQ:WB) Stock Has Average Price Target of $8.10

Weibo Corporation (NASDAQ:WB) has been assigned a consensus recommendation of “Reduce” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.10.

A number of research firms have recently commented on WB. Zacks Research raised Weibo from a “strong sell” rating to a “hold” rating in a research note on Friday, October 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a report on Thursday, October 22nd. Bank of America reissued an “underperform” rating on shares of Weibo in a research note on Friday, August 21st. Citigroup cut Weibo from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $9.30 to $7.80 in a report on Thursday, August 20th. Finally, Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Thursday, August 20th.

Institutional Trading of Weibo

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in Weibo by 337.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock valued at $34,000 after buying an additional 2,990 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Weibo by 67.5% during the third quarter. SBI Securities Co. Ltd. now owns 6,325 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 2,550 shares in the last quarter. Nykredit A S purchased a new stake in shares of Weibo in the second quarter valued at approximately $93,000. QRG Capital Management Inc. boosted its holdings in shares of Weibo by 15.2% in the second quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock valued at $170,000 after purchasing an additional 3,090 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Weibo in the second quarter valued at approximately $208,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Price Performance

WB stock opened at $6.53 on Tuesday. Weibo has a 12 month low of $6.09 and a 12 month high of $11.28. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $6.51 and a 200 day moving average price of $8.06. The stock has a market cap of $1.60 billion, a PE ratio of 5.40 and a beta of 0.19.

Weibo (NASDAQ:WB) last issued its quarterly earnings results 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. The company had revenue of $453.83 million for the quarter, compared to the consensus estimate of $442.45 million. Weibo had a net margin of 17.78% and a return on equity of 8.87%. Equities research analysts anticipate that Weibo will post 1.02 earnings per share for the current year.

Weibo Company Profile

Weibo Corp. (NASDAQ: WB) operates a social media platform in China centered on the Weibo service, a microblogging and content-sharing network. The platform enables users to create, discover and distribute text, images, video and live content, while allowing public figures, media organizations, businesses and government agencies to engage with audiences and participate in public discussions.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and other brand- and performance-based advertising solutions.