Weibo Corporation (NASDAQ:WB) Stock Has Average Price Target of $8.10

Weibo Corporation (NASDAQ:WB) has earned a consensus rating of “Reduce” from the six ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.10.

A number of analysts have commented on WB shares. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Thursday, August 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Weibo in a research report on Thursday, October 22nd. Citigroup downgraded Weibo from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $9.30 to $7.80 in a research note on Thursday, August 20th. Zacks Research upgraded Weibo from a “strong sell” rating to a “hold” rating in a research report on Friday, October 23rd. Finally, Bank of America reaffirmed an “underperform” rating on shares of Weibo in a research note on Friday, August 21st.

Hedge Funds Weigh In On Weibo

A number of institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Weibo by 337.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 2,990 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Weibo by 67.5% during the third quarter. SBI Securities Co. Ltd. now owns 6,325 shares of the information services provider’s stock worth $41,000 after acquiring an additional 2,550 shares in the last quarter. Nykredit A S bought a new position in Weibo during the second quarter worth $93,000. QRG Capital Management Inc. grew its holdings in Weibo by 15.2% in the second quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock worth $170,000 after purchasing an additional 3,090 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Weibo in the second quarter worth $208,000. 68.77% of the stock is currently owned by institutional investors.

Weibo Trading Up 2.3%

NASDAQ:WB opened at $6.35 on Tuesday. Weibo has a 52 week low of $6.09 and a 52 week high of $11.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.59 and a current ratio of 3.59. The firm’s fifty day moving average is $6.56 and its 200-day moving average is $8.15. The firm has a market cap of $1.56 billion, a P/E ratio of 5.25 and a beta of 0.17.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $453.83 million during the quarter, compared to the consensus estimate of $442.45 million. Weibo had a net margin of 17.78% and a return on equity of 8.87%. Equities analysts expect that Weibo will post 1.02 earnings per share for the current year.

About Weibo

Weibo Corp. (NASDAQ: WB) operates a social media platform in China centered on the Weibo service, a microblogging and content-sharing network. The platform enables users to create, discover and distribute text, images, video and live content, while allowing public figures, media organizations, businesses and government agencies to engage with audiences and participate in public discussions.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and other brand- and performance-based advertising solutions.