Weibo Corp. (WB) Cut to “Hold” at Zacks Investment Research
Weibo Corp. (NASDAQ:WB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “
Other equities research analysts have also recently issued reports about the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $43.00 price target on shares of Weibo Corp. in a research note on Thursday, August 11th. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price target (up from $43.00) on shares of Weibo Corp. in a research note on Monday, October 3rd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Weibo Corp. in a report on Wednesday, October 26th. Goldman Sachs Group Inc. boosted their target price on Weibo Corp. from $25.40 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Finally, Citigroup Inc. began coverage on Weibo Corp. in a report on Friday, August 5th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Weibo Corp. presently has an average rating of “Buy” and a consensus target price of $49.29.
Shares of Weibo Corp. (NASDAQ:WB) opened at 51.73 on Wednesday. The stock has a market capitalization of $5157.07 billion, a price-to-earnings ratio of 95.80 and a beta of 2.76. The stock’s 50 day moving average price is $48.82 and its 200 day moving average price is $39.93. Weibo Corp. has a 12 month low of $12.09 and a 12 month high of $55.93.
Weibo Corp. (NASDAQ:WB) last issued its quarterly earnings results on Monday, November 21st. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The company had revenue of $176.90 million for the quarter, compared to analysts’ expectations of $173.19 million. Weibo Corp. had a return on equity of 12.79% and a net margin of 14.22%. The firm’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. Analysts expect that Weibo Corp. will post $0.72 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in shares of Weibo Corp. by 2.7% in the third quarter. Wells Fargo & Company MN now owns 3,017,638 shares of the company’s stock worth $151,305,000 after buying an additional 79,178 shares during the last quarter. Value Partners Ltd. ADV increased its position in Weibo Corp. by 94.0% in the second quarter. Value Partners Ltd. ADV now owns 2,626,659 shares of the company’s stock worth $74,623,000 after buying an additional 1,272,779 shares in the last quarter. 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 worth $47,418,000 after buying an additional 876,000 shares in the last quarter. Westpac Banking Corp increased its position in Weibo Corp. by 40.8% in the third quarter. Westpac Banking Corp now owns 1,137,392 shares of the company’s stock worth $57,029,000 after buying an additional 329,674 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Weibo Corp. by 131.4% in the third quarter. Acadian Asset Management LLC now owns 1,131,882 shares of the company’s stock worth $56,752,000 after buying an additional 642,691 shares in the last quarter. 16.83% 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.
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