Weibo Corporation’s (WB) Buy Rating Reiterated at Citigroup Inc.
Citigroup Inc. reiterated their buy rating on shares of Weibo Corporation (NASDAQ:WB) in a research note published on Thursday morning, The Fly reports. Citigroup Inc. currently has a $126.00 price objective on the information services provider’s stock, up from their prior price objective of $102.00.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Weibo Corporation from a strong-buy rating to a hold rating in a research note on Wednesday, July 19th. Jefferies Group LLC restated a buy rating and issued a $82.00 target price on shares of Weibo Corporation in a research note on Thursday, July 27th. BidaskClub upgraded shares of Weibo Corporation from a buy rating to a strong-buy rating in a research note on Sunday, July 16th. Barclays PLC restated an overweight rating and issued a $85.00 target price (up previously from $66.00) on shares of Weibo Corporation in a research note on Wednesday, May 17th. Finally, Instinet reaffirmed a buy rating and set a $102.00 price objective (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Weibo Corporation presently has a consensus rating of Buy and an average target price of $85.28.
Shares of Weibo Corporation (NASDAQ:WB) opened at 106.11 on Thursday. The stock has a 50 day moving average price of $92.81 and a 200 day moving average price of $70.33. The firm has a market capitalization of $22.00 billion, a PE ratio of 122.25 and a beta of 2.61. Weibo Corporation has a 52 week low of $40.12 and a 52 week high of $108.30.
Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The firm had revenue of $253.37 million for the quarter, compared to analyst estimates of $246.78 million. During the same quarter in the previous year, the business posted $0.16 EPS. The firm’s revenue was up 72.5% compared to the same quarter last year. Equities analysts forecast that Weibo Corporation will post $1.63 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Harding Loevner LP lifted its stake in Weibo Corporation by 23.7% during the second quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock valued at $233,037,000 after purchasing an additional 672,381 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Weibo Corporation by 30.2% during the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock valued at $113,491,000 after purchasing an additional 396,281 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Weibo Corporation by 36.9% during the second quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock valued at $82,378,000 after purchasing an additional 334,095 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Weibo Corporation during the first quarter valued at approximately $56,068,000. Finally, BT Investment Management Ltd acquired a new stake in Weibo Corporation during the second quarter valued at approximately $63,749,000. 19.58% of the stock is owned by institutional investors and hedge funds.
About Weibo Corporation
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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