Weibo Corp (WB) Given Buy Rating at Jefferies Group
Jefferies Group reissued their buy rating on shares of Weibo Corp (NASDAQ:WB) in a research note published on Monday. The firm currently has a $60.00 price target on the stock, up from their previous price target of $43.00.
WB has been the subject of a number of other research reports. Zacks Investment Research raised Weibo Corp from a hold rating to a buy rating and set a $48.00 price objective for the company in a research report on Saturday, August 13th. Citigroup Inc. started coverage on Weibo Corp in a research report on Friday, August 5th. They issued a buy rating for the company. Goldman Sachs Group Inc. raised their price objective on Weibo Corp from $25.40 to $40.00 and gave the stock a neutral rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. started coverage on Weibo Corp in a research report on Wednesday, August 31st. They set an overweight rating and a $70.00 price target for the company. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and set a $43.00 price target on shares of Weibo Corp in a research report on Thursday, August 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $43.71.
Weibo Corp (NASDAQ:WB) traded up 0.82% during mid-day trading on Monday, reaching $51.42. The company had a trading volume of 97,263 shares. The stock’s 50-day moving average price is $48.10 and its 200 day moving average price is $32.03. Weibo Corp has a 52 week low of $12.09 and a 52 week high of $52.29. The firm has a market capitalization of $10.66 billion, a PE ratio of 171.40 and a beta of 2.75.
Weibo Corp (NASDAQ:WB) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. The company earned $146.90 million during the quarter, compared to analysts’ expectations of $141.15 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. The company’s revenue was up 36.3% compared to the same quarter last year. On average, equities research analysts predict that Weibo Corp will post $0.74 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Weibo Corp by 0.9% in the second quarter. BlackRock Inc. now owns 4,159 shares of the company’s stock valued at $118,000 after buying an additional 39 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Weibo Corp during the second quarter valued at $216,000. Bank of Montreal Can acquired a new position in shares of Weibo Corp during the second quarter valued at $236,000. Cubist Systematic Strategies LLC acquired a new position in shares of Weibo Corp during the second quarter valued at $253,000. Finally, Cadence Capital Management LLC purchased a new stake in Weibo Corp during the second quarter valued at approximately $256,000.
About Weibo Corp
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.
Receive News & Stock Ratings for Weibo Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo Corp and related stocks with our FREE daily email newsletter.