Weibo Co. (NASDAQ:WB) Receives $11.98 Average PT from Brokerages

Shares of Weibo Co. (NASDAQ:WB) have earned an average rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.98.

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

Institutional Trading of Weibo

Large investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. grew its stake in Weibo by 88.9% during the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 651 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Weibo during the 2nd quarter valued at about $50,000. Osaic Holdings Inc. grew its position in shares of Weibo by 16.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,113 shares of the information services provider’s stock worth $87,000 after buying an additional 1,022 shares during the last quarter. Truist Financial Corp purchased a new position in shares of Weibo in the 4th quarter worth approximately $117,000. Finally, Creative Planning grew its position in shares of Weibo by 232,600.0% in the 4th quarter. Creative Planning now owns 11,635 shares of the information services provider’s stock worth $127,000 after buying an additional 11,630 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

Weibo Stock Performance

Shares of Weibo stock opened at $9.10 on Friday. The stock has a market cap of $2.13 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The business has a fifty day simple moving average of $9.10 and a 200-day simple moving average of $10.25. The company has a quick ratio of 2.38, a current ratio of 2.51 and a debt-to-equity ratio of 0.54. Weibo has a 12 month low of $7.84 and a 12 month high of $18.12.

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

Weibo Cuts Dividend

The business also recently announced 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 of this dividend 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.