Weibo Corporation (NASDAQ:WB) had its price objective dropped by equities researchers at Jefferies Group LLC from $105.00 to $82.00 in a research report issued on Thursday, MarketBeat.com reports. The firm currently has a “buy” rating on the information services provider’s stock. Jefferies Group LLC’s target price indicates a potential downside of 4.50% from the company’s previous close.

Several other equities research analysts also recently weighed in on WB. BidaskClub downgraded Weibo Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Vetr downgraded Weibo Corporation from a “strong-buy” rating to a “buy” rating and set a $65.50 price objective on the stock. in a report on Monday, May 8th. Benchmark Co. began coverage on Weibo Corporation in a report on Tuesday, April 18th. They set a “buy” rating and a $65.00 price objective on the stock. Barclays PLC reissued an “overweight” rating and set a $85.00 price objective (up previously from $66.00) on shares of Weibo Corporation in a report on Wednesday, May 17th. Finally, TheStreet raised Weibo Corporation from a “c” rating to a “b-” rating in a report on Monday, April 17th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Weibo Corporation presently has an average rating of “Buy” and an average target price of $78.61.

Shares of Weibo Corporation (NASDAQ:WB) opened at 85.86 on Thursday. Weibo Corporation has a 52-week low of $40.12 and a 52-week high of $88.88.

Weibo Corporation (NASDAQ:WB) last released its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Weibo Corporation had a return on equity of 25.65% and a net margin of 23.22%. The company had revenue of $253.37 million for the quarter, compared to the consensus estimate of $246.78 million. During the same quarter last year, the business posted $0.16 EPS. Weibo Corporation’s revenue for the quarter was up 72.5% on a year-over-year basis. Equities research analysts anticipate that Weibo Corporation will post $1.60 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. raised its position in shares of Weibo Corporation by 0.3% in the first quarter. Shell Asset Management Co. now owns 11,255 shares of the information services provider’s stock valued at $587,000 after buying an additional 29 shares in the last quarter. 1st Global Advisors Inc. raised its position in shares of Weibo Corporation by 0.4% in the first quarter. 1st Global Advisors Inc. now owns 8,294 shares of the information services provider’s stock valued at $433,000 after buying an additional 34 shares in the last quarter. Steinberg Global Asset Management raised its position in shares of Weibo Corporation by 0.6% in the second quarter. Steinberg Global Asset Management now owns 7,249 shares of the information services provider’s stock valued at $482,000 after buying an additional 46 shares in the last quarter. Comerica Bank raised its position in shares of Weibo Corporation by 1.7% in the first quarter. Comerica Bank now owns 5,713 shares of the information services provider’s stock valued at $316,000 after buying an additional 95 shares in the last quarter. Finally, Alta Advisers Ltd raised its position in shares of Weibo Corporation by 5.0% in the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock valued at $110,000 after buying an additional 100 shares in the last quarter. 16.58% of the stock is owned by institutional investors and hedge funds.

Weibo Corporation Company Profile

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.

Analyst Recommendations for Weibo Corporation (NASDAQ:WB)

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