Jefferies Group set a $60.00 price target on Weibo Corp. (NASDAQ:WB) in a research report released on Tuesday. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on WB. Citigroup Inc. initiated coverage on Weibo Corp. in a research note on Friday, August 5th. They set a buy rating for the company. 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 note on Saturday, August 13th. JPMorgan Chase & Co. reissued an overweight rating on shares of Weibo Corp. in a research note on Wednesday, October 26th. T.H. Capital increased their price objective on Weibo Corp. from $38.00 to $60.00 and gave the company a buy rating in a research note on Friday, October 7th. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $43.00 price objective on shares of Weibo Corp. in a research note on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $49.29.

Analyst Recommendations for Weibo Corp. (NASDAQ:WB)

Weibo Corp. (NASDAQ:WB) traded up 1.57% during mid-day trading on Tuesday, hitting $49.73. 2,626,442 shares of the stock traded hands. Weibo Corp. has a 1-year low of $12.09 and a 1-year high of $55.93. The firm has a market capitalization of $10.31 billion, a P/E ratio of 165.77 and a beta of 2.76. The company has a 50-day moving average of $49.16 and a 200 day moving average of $39.21.

Weibo Corp. (NASDAQ:WB) last issued its earnings results on Monday, November 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The business earned $176.90 million during the quarter, compared to analyst estimates of $173.19 million. Weibo Corp. had a return on equity of 13.09% and a net margin of 14.22%. Weibo Corp.’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. On average, equities research analysts anticipate that Weibo Corp. will post $0.68 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Weibo Corp. by 2.7% in the third quarter. Wells Fargo & Company MN now owns 3,017,638 shares of the company’s stock worth $151,305,000 after buying an additional 79,178 shares in the last quarter. Value Partners Ltd. ADV boosted its stake in Weibo Corp. by 94.0% in the second quarter. Value Partners Ltd. ADV now owns 2,626,659 shares of the company’s stock valued at $74,623,000 after buying an additional 1,272,779 shares during the period. 1832 Asset Management L.P. boosted its stake in Weibo Corp. by 112.0% in the second quarter. 1832 Asset Management L.P. now owns 1,658,100 shares of the company’s stock valued at $47,418,000 after buying an additional 876,000 shares during the period. Westpac Banking Corp boosted its stake in Weibo Corp. by 40.8% in the third quarter. Westpac Banking Corp now owns 1,137,392 shares of the company’s stock valued at $57,029,000 after buying an additional 329,674 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Weibo Corp. by 131.4% in the third quarter. Acadian Asset Management LLC now owns 1,131,882 shares of the company’s stock valued at $56,752,000 after buying an additional 642,691 shares during the period. 13.77% of the stock is currently owned by hedge funds and other institutional investors.

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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.

5 Day Chart for NASDAQ:WB

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