BidaskClub upgraded shares of Weibo (NASDAQ:WB) from a strong sell rating to a sell rating in a report released on Wednesday morning.
Several other equities analysts have also weighed in on WB. Barclays restated a buy rating and issued a $130.00 price target (down previously from $150.00) on shares of Weibo in a research note on Sunday, July 29th. ValuEngine lowered Weibo from a sell rating to a strong sell rating in a research note on Thursday, September 6th. Jefferies Financial Group restated a buy rating and issued a $145.00 price target on shares of Weibo in a research note on Tuesday, July 24th. Zacks Investment Research lowered Weibo from a buy rating to a hold rating in a research note on Sunday, July 15th. Finally, JPMorgan Chase & Co. began coverage on Weibo in a research note on Wednesday, August 29th. They issued an overweight rating and a $118.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $126.00.
Shares of WB stock opened at $56.99 on Wednesday. The stock has a market capitalization of $12.94 billion, a PE ratio of 36.53 and a beta of 2.33. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.61. Weibo has a 52-week low of $54.36 and a 52-week high of $142.12.
Weibo (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The business had revenue of $426.60 million during the quarter, compared to analysts’ expectations of $426.54 million. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The company’s revenue for the quarter was up 68.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, equities research analysts expect that Weibo will post 2.49 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its stake in Weibo by 124.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 26,549 shares of the information services provider’s stock worth $3,174,000 after buying an additional 14,712 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Weibo by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 89,212 shares of the information services provider’s stock worth $10,664,000 after buying an additional 4,051 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Weibo by 9.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,666 shares of the information services provider’s stock worth $1,036,000 after buying an additional 769 shares in the last quarter. BB&T Securities LLC purchased a new stake in Weibo during the 1st quarter worth approximately $284,000. Finally, Commonwealth Equity Services LLC increased its stake in 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 in the last quarter. Hedge funds and other institutional investors own 23.65% of the company’s stock.
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.
See Also: Hedge Funds
Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.