Weibo Corp. (WB) Price Target Raised to $60.00 at T.H. Capital
Several other analysts have also commented on the stock. Jefferies Group restated a buy rating and set a $60.00 price target (up previously from $43.00) on shares of Weibo Corp. in a research report on Monday, October 3rd. Citigroup Inc. initiated coverage on shares of Weibo Corp. in a research report on Friday, August 5th. They issued a buy rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of Weibo Corp. in a research report on Wednesday, August 31st. They issued an overweight rating and a $70.00 target price on the stock. Zacks Investment Research upgraded shares of Weibo Corp. from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Saturday, August 13th. Finally, Piper Jaffray Cos. reiterated an overweight rating and issued a $43.00 target price on shares of Weibo Corp. in a research report on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $49.29.
Shares of Weibo Corp. (NASDAQ:WB) traded up 5.93% during mid-day trading on Friday, hitting $54.98. 941,494 shares of the stock traded hands. Weibo Corp. has a 12 month low of $12.09 and a 12 month high of $55.59. The firm has a 50 day moving average of $49.07 and a 200 day moving average of $32.82. The company has a market cap of $11.40 billion, a P/E ratio of 183.27 and a beta of 2.70.
Weibo Corp. (NASDAQ:WB) last released its quarterly earnings results on Monday, August 8th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The company had revenue of $146.90 million for the quarter, compared to analyst estimates of $141.15 million. Weibo Corp. had a net margin of 12.33% and a return on equity of 10.62%. The firm’s revenue was up 36.3% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. Equities analysts anticipate that Weibo Corp. will post $0.73 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Value Partners Ltd. ADV acquired a new position in Weibo Corp. during the first quarter valued at $24,302,000. 1832 Asset Management L.P. increased its position in Weibo Corp. by 112.0% in the second quarter. 1832 Asset Management L.P. now owns 1,658,100 shares of the company’s stock valued at $47,418,000 after buying an additional 876,000 shares in the last quarter. Westpac Banking Corp acquired a new position in Weibo Corp. during the second quarter valued at $22,947,000. Acadian Asset Management LLC acquired a new position in Weibo Corp. during the second quarter valued at $13,896,000. Finally, Emerald Acquisition Ltd. acquired a new position in Weibo Corp. during the second quarter valued at $7,853,000. 12.33% of the stock is currently owned by hedge funds and other 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.
Receive News & Ratings for Weibo Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo Corp. and related companies with MarketBeat.com's FREE daily email newsletter.