Weibo Corporation (WB) Rating Increased to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Weibo Corporation (NASDAQ:WB) from a hold rating to a strong-buy rating in a report released on Tuesday morning. They currently have $95.00 target price on the information services provider’s stock.
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. “
Several other equities research analysts also recently weighed in on the stock. Jefferies Group LLC reduced their price target on shares of Weibo Corporation from $105.00 to $82.00 and set a buy rating for the company in a research report on Thursday, August 10th. Instinet reissued a buy rating and set a $102.00 price target (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Barclays PLC set a $100.00 price target on shares of Weibo Corporation and gave the company an overweight rating in a research report on Friday, August 11th. BidaskClub raised shares of Weibo Corporation from a buy rating to a strong-buy rating in a research report on Sunday, July 16th. Finally, T.H. Capital reissued a buy rating and set a $70.00 price target (up previously from $60.00) on shares of Weibo Corporation in a research report on Tuesday, May 9th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $79.06.
Shares of Weibo Corporation (WB) opened at 86.575 on Tuesday. Weibo Corporation has a one year low of $40.12 and a one year high of $88.88.
Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The business had revenue of $253.37 million during the quarter, compared to analyst estimates of $246.78 million. During the same period last year, the business posted $0.16 earnings per share. Weibo Corporation’s quarterly revenue was up 72.5% compared to the same quarter last year. On average, equities analysts anticipate that Weibo Corporation will post $1.60 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. William Blair Investment Management LLC bought a new stake in Weibo Corporation during the first quarter worth approximately $56,068,000. BT Investment Management Ltd bought a new stake in Weibo Corporation during the second quarter worth approximately $63,749,000. Macquarie Group Ltd. increased its stake in Weibo Corporation by 55,465.9% in the first quarter. Macquarie Group Ltd. now owns 905,168 shares of the information services provider’s stock worth $47,233,000 after buying an additional 903,539 shares during the period. Harding Loevner LP increased its stake in Weibo Corporation by 23.7% in the second quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock worth $233,037,000 after buying an additional 672,381 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Weibo Corporation during the first quarter worth approximately $26,341,000. 16.58% of the stock is owned by institutional investors and hedge funds.
About Weibo Corporation
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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