Weibo Corporation (NASDAQ:WB) Receives $8.80 Average PT from Analysts

Shares of Weibo Corporation (NASDAQ:WB) have been assigned an average rating of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Two investment 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 target price among analysts that have updated their coverage on the stock in the last year is $8.80.

A number of analysts recently issued reports on WB shares. Zacks Research raised Weibo from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Weibo in a research note on Friday, July 24th. Citigroup cut shares of Weibo from a “buy” rating to a “neutral” rating and reduced their price target for the company from $9.30 to $7.80 in a report on Thursday, August 20th. Benchmark reissued a “hold” rating on shares of Weibo in a research report on Thursday, August 20th. Finally, Jefferies Financial Group restated a “buy” rating and set a $9.80 price objective on shares of Weibo in a report on Thursday, May 28th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in 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. Nykredit A S bought a new position in shares of Weibo during the 2nd quarter worth approximately $93,000. FourThought Financial Partners LLC bought a new position in shares of Weibo during the 4th quarter worth approximately $110,000. Tidal Investments LLC acquired a new stake in shares of Weibo in the second quarter valued at approximately $208,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Weibo in the fourth quarter valued at approximately $228,000. 68.77% of the stock is currently owned by institutional investors.

Weibo Stock Performance

Shares of Weibo stock opened at $6.54 on Monday. The stock’s fifty day simple moving average is $7.38 and its 200 day simple moving average is $8.01. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $1.61 billion, a PE ratio of 5.41, a PEG ratio of 4.17 and a beta of 0.18. Weibo has a 12 month low of $6.47 and a 12 month high of $12.96.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $453.83 million during the quarter, compared to the consensus estimate of $442.45 million. Weibo had a return on equity of 8.87% and a net margin of 17.78%. On average, research analysts predict that Weibo will post 1.19 EPS for the current year.

Weibo Company Profile

Weibo Corporation (NASDAQ: WB) operates a social media platform in China that enables users to create, share and discover short-form content. Often described as a microblogging service, Weibo supports public posts, multimedia content, hashtags, trending topics, comments, direct messaging and interactions among users, public figures, media organizations and businesses.

The company generates revenue primarily through advertising and marketing services, including promoted content, display advertising and advertising products designed to help brands reach targeted audiences.