Weibo (WB) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Weibo (NASDAQ:WB) from a buy rating to a hold rating in a research note issued to investors on Saturday.

According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “

Several other research firms have also weighed in on WB. JPMorgan Chase & Co. raised their price objective on Weibo from $135.00 to $140.00 and gave the company an overweight rating in a research note on Thursday. BidaskClub raised Weibo from a buy rating to a strong-buy rating in a research note on Friday. Barclays reaffirmed an overweight rating and issued a $150.00 price objective on shares of Weibo in a research note on Wednesday. Benchmark raised their price objective on Weibo from $110.00 to $148.00 and gave the company a buy rating in a research note on Wednesday. Finally, Morgan Stanley assumed coverage on Weibo in a research note on Friday, January 5th. They issued an overweight rating and a $130.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $117.68.

Shares of Weibo (NASDAQ WB) opened at $134.74 on Friday. The stock has a market capitalization of $29,806.78, a price-to-earnings ratio of 85.82 and a beta of 2.65. Weibo has a 1-year low of $47.36 and a 1-year high of $142.12. The company has a current ratio of 4.22, a quick ratio of 2.23 and a debt-to-equity ratio of 0.74.

Weibo (NASDAQ:WB) last released its earnings results on Tuesday, February 13th. The information services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. The company had revenue of $377.40 million for the quarter, compared to analyst estimates of $362.04 million. Weibo had a return on equity of 35.57% and a net margin of 30.66%. Weibo’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. research analysts anticipate that Weibo will post 2.57 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of WB. Teachers Advisors LLC raised its position in Weibo by 20.2% in the second quarter. Teachers Advisors LLC now owns 15,267 shares of the information services provider’s stock valued at $1,015,000 after purchasing an additional 2,567 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Weibo by 58.3% in the second quarter. TIAA CREF Investment Management LLC now owns 61,747 shares of the information services provider’s stock valued at $4,104,000 after purchasing an additional 22,747 shares during the last quarter. Ameriprise Financial Inc. raised its position in Weibo by 38.2% in the second quarter. Ameriprise Financial Inc. now owns 80,097 shares of the information services provider’s stock valued at $5,325,000 after purchasing an additional 22,144 shares during the last quarter. FMR LLC raised its position in Weibo by 31.7% in the second quarter. FMR LLC now owns 13,135 shares of the information services provider’s stock valued at $873,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Weibo by 69.9% in the second quarter. Parametric Portfolio Associates LLC now owns 36,210 shares of the information services provider’s stock valued at $2,407,000 after purchasing an additional 14,892 shares during the last quarter. Hedge funds and other institutional investors own 22.14% of the company’s stock.

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Weibo Company Profile

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

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