Nomura set a $48.00 price target on Weibo (NASDAQ:WB) in a report released on Wednesday, TipRanks reports. The brokerage currently has a hold rating on the information services provider’s stock.
Several other equities research analysts have also recently weighed in on WB. Zacks Investment Research cut Weibo from a hold rating to a sell rating in a research note on Thursday, August 15th. ValuEngine raised Weibo from a strong sell rating to a sell rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. cut Weibo from an overweight rating to a neutral rating and set a $45.00 price objective on the stock. in a research note on Tuesday, May 28th. Credit Suisse Group cut Weibo from an outperform rating to a neutral rating in a research note on Tuesday, July 16th. Finally, Barclays set a $55.00 price objective on Weibo and gave the stock a buy rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Weibo presently has a consensus rating of Hold and a consensus price target of $56.79.
Shares of NASDAQ WB opened at $39.62 on Wednesday. The business’s 50 day moving average is $39.55 and its two-hundred day moving average is $53.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.58 and a quick ratio of 3.44. Weibo has a 1-year low of $34.26 and a 1-year high of $83.35. The stock has a market capitalization of $9.31 billion, a P/E ratio of 15.72 and a beta of 2.21.
Weibo (NASDAQ:WB) last issued its quarterly earnings data on Monday, August 19th. The information services provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. Weibo had a return on equity of 32.08% and a net margin of 33.01%. The company had revenue of $431.80 million for the quarter, compared to analysts’ expectations of $434.79 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts anticipate that Weibo will post 2.39 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of Weibo by 29.7% in the second quarter. Invesco Ltd. now owns 4,591,978 shares of the information services provider’s stock valued at $199,981,000 after purchasing an additional 1,052,658 shares during the period. Fiera Capital Corp boosted its holdings in shares of Weibo by 115.4% in the first quarter. Fiera Capital Corp now owns 929,420 shares of the information services provider’s stock valued at $57,615,000 after purchasing an additional 498,002 shares during the period. Federated Investors Inc. PA boosted its holdings in shares of Weibo by 21.3% in the first quarter. Federated Investors Inc. PA now owns 2,143,962 shares of the information services provider’s stock valued at $132,904,000 after purchasing an additional 376,126 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Weibo in the second quarter valued at approximately $15,466,000. Finally, Platinum Investment Management Ltd. boosted its holdings in shares of Weibo by 11.9% in the second quarter. Platinum Investment Management Ltd. now owns 3,096,729 shares of the information services provider’s stock valued at $134,863,000 after purchasing an additional 328,248 shares during the period. Institutional investors and hedge funds own 25.25% of the company’s stock.
Weibo Company Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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