Jefferies Group Reaffirms Buy Rating for Weibo Corp. (WB)
Jefferies Group reiterated their buy rating on shares of Weibo Corp. (NASDAQ:WB) in a research note published on Monday morning. Jefferies Group currently has a $60.00 price objective on the stock, up from their prior price objective of $43.00.
Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. started coverage on Weibo Corp. in a research note on Wednesday, August 31st. They set an overweight rating and a $70.00 target price on the stock. Zacks Investment Research raised Weibo Corp. from a hold rating to a buy rating and set a $48.00 target price on the stock in a research note on Saturday, August 13th. Goldman Sachs Group Inc. boosted their target price on Weibo Corp. from $25.40 to $40.00 and gave the company a neutral rating in a research note on Thursday, August 11th. Piper Jaffray Cos. reissued an overweight rating and set a $43.00 target price on shares of Weibo Corp. in a research note on Thursday, August 11th. Finally, Citigroup Inc. started coverage on Weibo Corp. in a research note on Friday, August 5th. They set a buy rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $43.71.
Weibo Corp. (NASDAQ:WB) opened at 52.63 on Monday. The company has a market capitalization of $10.91 billion, a PE ratio of 175.43 and a beta of 2.70. The firm’s 50-day moving average price is $48.88 and its 200 day moving average price is $32.58. Weibo Corp. has a 52 week low of $12.09 and a 52 week high of $55.59.
Weibo Corp. (NASDAQ:WB) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. Weibo Corp. had a return on equity of 10.62% and a net margin of 12.33%. The firm earned $146.90 million during the quarter, compared to the consensus estimate of $141.15 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue was up 36.3% on a year-over-year basis. Equities research analysts expect that Weibo Corp. will post $0.73 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Weibo Corp. by 0.9% in the second quarter. BlackRock Inc. now owns 4,159 shares of the company’s stock valued at $118,000 after buying an additional 39 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Weibo Corp. during the second quarter worth approximately $216,000. Bank of Montreal Can bought a new stake in Weibo Corp. during the second quarter worth approximately $236,000. Cubist Systematic Strategies LLC bought a new stake in Weibo Corp. during the second quarter worth approximately $253,000. Finally, Cadence Capital Management LLC bought a new stake in Weibo Corp. during the second quarter worth approximately $256,000. 12.33% of the stock is currently owned by institutional investors.
About Weibo Corp.
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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