Weibo Co. (NASDAQ:WB) Given Average Recommendation of “Hold” by Brokerages

Weibo Co. (NASDAQ:WB) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $10.23.

Several brokerages have commented on WB. Citigroup boosted their price objective on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Finally, Benchmark reiterated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th.

Weibo Price Performance

WB stock opened at $9.12 on Friday. The company’s 50-day moving average price is $9.42 and its two-hundred day moving average price is $8.72. Weibo has a 12 month low of $7.03 and a 12 month high of $12.40. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.14 billion, a P/E ratio of 6.25 and a beta of 0.26.

Hedge Funds Weigh In On Weibo

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in Weibo by 204.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock worth $18,678,000 after purchasing an additional 1,634,230 shares during the last quarter. Krane Funds Advisors LLC raised its stake in Weibo by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after buying an additional 564,068 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Weibo by 64.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock valued at $10,056,000 after buying an additional 511,248 shares during the period. Polunin Capital Partners Ltd bought a new stake in Weibo during the third quarter valued at $5,064,000. Finally, Citigroup Inc. grew its holdings in Weibo by 347.3% during the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after acquiring an additional 468,072 shares during the period. Institutional investors own 68.77% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.