Weibo Corp. (WB) Price Target Raised to $60.00 at T.H. Capital
A number of other equities research analysts also recently issued reports on the stock. Jefferies Group reissued a buy rating and set a $60.00 price objective (up previously from $43.00) on shares of Weibo Corp. in a research report on Monday, October 3rd. JPMorgan Chase & Co. assumed coverage on shares of Weibo Corp. in a research report on Wednesday, August 31st. They set an overweight rating and a $70.00 price objective for the company. Zacks Investment Research raised shares of 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. Goldman Sachs Group Inc. boosted their price objective on shares of Weibo Corp. from $25.40 to $40.00 and gave the company a neutral rating in a research report on Thursday, August 11th. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $43.00 price objective on shares of Weibo Corp. in a research report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $49.29.
Weibo Corp. (NASDAQ:WB) traded up 5.93% on Friday, reaching $54.98. The company had a trading volume of 941,494 shares. Weibo Corp. has a 12-month low of $12.09 and a 12-month high of $55.59. The stock’s 50 day moving average price is $49.07 and its 200-day moving average price is $32.82. The stock has a market capitalization of $11.40 billion, a PE ratio of 183.27 and a beta of 2.70.
Weibo Corp. (NASDAQ:WB) last posted its earnings results on Monday, August 8th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Weibo Corp. had a net margin of 12.33% and a return on equity of 10.62%. The business earned $146.90 million during the quarter, compared to the consensus estimate of $141.15 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s revenue was up 36.3% on a year-over-year basis. Equities analysts expect that Weibo Corp. will post $0.73 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Sumway Development LTD. acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $4,426,000. Societe Generale acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $703,000. Mizuho Trust & Banking Co. Ltd. acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $979,000. Bank of New York Mellon Corp acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $4,130,000. Finally, Bank of Montreal Can acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $236,000. Hedge funds and other institutional investors own 12.33% of the company’s stock.
Weibo Corp. 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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