Weibo Corp. (WB) Cut to “Hold” at Zacks Investment Research
Weibo Corp. (NASDAQ:WB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “
Other analysts also recently issued research reports about the stock. T.H. Capital raised their price objective on shares of Weibo Corp. from $38.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 7th. Jefferies Group reiterated a “buy” rating and issued a $60.00 target price (up from $43.00) on shares of Weibo Corp. in a report on Monday, October 3rd. Citigroup Inc. assumed coverage on Weibo Corp. in a report on Friday, August 5th. They issued a “buy” rating on the stock. Goldman Sachs Group Inc. increased their target price on Weibo Corp. from $25.40 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Weibo Corp. in a report on Wednesday, October 26th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $49.29.
Weibo Corp. (NASDAQ:WB) opened at 51.73 on Wednesday. Weibo Corp. has a 12-month low of $12.09 and a 12-month high of $55.93. The firm has a 50 day moving average of $48.82 and a 200 day moving average of $39.93. The firm has a market capitalization of $5157.07 billion, a P/E ratio of 95.80 and a beta of 2.76.
Weibo Corp. (NASDAQ:WB) last announced its quarterly earnings data on Monday, November 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company earned $176.90 million during the quarter, compared to the consensus estimate of $173.19 million. Weibo Corp. had a net margin of 14.22% and a return on equity of 12.79%. The company’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, analysts forecast that Weibo Corp. will post $0.72 EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of WB. Turner Investments L.P. bought a new position in shares of Weibo Corp. during the second quarter valued at $682,000. Granite Point Capital Management L.P. acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $832,000. Cadence Capital Management LLC acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $256,000. Emerald Acquisition Ltd. acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $7,853,000. Finally, Sumway Development LTD. acquired a new stake in shares of Weibo Corp. during the second quarter valued at about $4,426,000. Institutional investors and hedge funds own 16.83% 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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