Weibo (WB) Given a $90.00 Price Target at Barclays

Weibo (NASDAQ:WB) has been assigned a $90.00 price objective by equities researchers at Barclays in a report issued on Thursday. The firm currently has a “buy” rating on the information services provider’s stock. Barclays’ price target indicates a potential upside of 57.92% from the company’s current price.

A number of other brokerages have also weighed in on WB. BidaskClub lowered Weibo from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 20th. ValuEngine lowered Weibo from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Zacks Investment Research lowered Weibo from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Jefferies Financial Group reissued a “buy” rating and set a $145.00 price target on shares of Weibo in a research note on Tuesday, July 24th. Finally, OTR Global began coverage on Weibo in a research note on Monday, August 6th. They set a “positive” rating on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $126.00.

WB stock opened at $56.99 on Thursday. Weibo has a 1 year low of $54.36 and a 1 year high of $142.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.97 and a current ratio of 3.97. The company has a market capitalization of $13.42 billion, a P/E ratio of 36.53 and a beta of 2.33.

Weibo (NASDAQ:WB) last posted its earnings results on Wednesday, August 8th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The firm had revenue of $426.60 million for the quarter, compared to analyst estimates of $426.54 million. During the same quarter in the prior year, the company earned $0.38 EPS. Weibo’s revenue was up 68.4% on a year-over-year basis. Analysts expect that Weibo will post 2.49 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its holdings in shares of Weibo by 8.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,943 shares of the information services provider’s stock worth $950,000 after buying an additional 600 shares during the last quarter. BB&T Corp increased its holdings in shares of Weibo by 6.7% during the 2nd quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock worth $947,000 after buying an additional 667 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Weibo by 10.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 7,376 shares of the information services provider’s stock worth $881,000 after buying an additional 681 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Weibo by 43.8% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock worth $204,000 after buying an additional 700 shares during the last quarter. Finally, Andra AP fonden increased its holdings in shares of Weibo by 1.7% during the 2nd quarter. Andra AP fonden now owns 41,700 shares of the information services provider’s stock worth $3,701,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 23.65% of the company’s stock.

About Weibo

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