Analysts Set Weibo Co. (NASDAQ:WB) Price Target at $11.98

Shares of Weibo Co. (NASDAQ:WB) have received an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $11.98.

WB has been the topic of several analyst reports. StockNews.com lowered shares of Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.60 target price on shares of Weibo in a report on Thursday, March 28th. HSBC reduced their target price on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a report on Friday, March 15th. UBS Group raised shares of Weibo from a “neutral” rating to a “buy” rating and cut their price target for the stock from $12.90 to $11.50 in a report on Tuesday, March 19th. Finally, Bank of America cut shares of Weibo from a “buy” rating to an “underperform” rating and decreased their price target for the company from $19.50 to $10.00 in a research report on Thursday, January 11th.

Institutional Trading of Weibo

A number of institutional investors have recently modified their holdings of WB. Robeco Institutional Asset Management B.V. increased its position in shares of Weibo by 26.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 352,584 shares of the information services provider’s stock valued at $4,421,000 after acquiring an additional 72,698 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Weibo by 14.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 85,058 shares of the information services provider’s stock worth $1,067,000 after buying an additional 10,668 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Weibo by 16.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 179,584 shares of the information services provider’s stock valued at $2,252,000 after purchasing an additional 25,000 shares during the last quarter. Long Corridor Asset Management Ltd grew its holdings in Weibo by 175.6% during the 3rd quarter. Long Corridor Asset Management Ltd now owns 620,000 shares of the information services provider’s stock valued at $7,775,000 after purchasing an additional 395,000 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in Weibo by 139.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 97,347 shares of the information services provider’s stock worth $1,221,000 after acquiring an additional 56,700 shares in the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Price Performance

Shares of Weibo stock opened at $9.29 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 6.54, a P/E/G ratio of 1.31 and a beta of 0.40. Weibo has a 1-year low of $7.58 and a 1-year high of $17.67. The firm’s 50-day moving average price is $8.88 and its two-hundred day moving average price is $9.79.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Thursday, March 14th. The information services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.14). Weibo had a net margin of 19.47% and a return on equity of 10.77%. The company had revenue of $463.67 million for the quarter, compared to the consensus estimate of $452.30 million. On average, equities analysts predict that Weibo will post 1.64 earnings per share for the current fiscal year.

Weibo Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, April 11th.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.