BidaskClub Downgrades Weibo Corporation (WB) to Buy
Weibo Corporation (NASDAQ:WB) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.
WB has been the topic of several other research reports. Zacks Investment Research upgraded shares of Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, August 15th. Barclays PLC set a $100.00 price target on shares of Weibo Corporation and gave the stock an “overweight” rating in a research report on Friday, August 11th. Instinet restated a “buy” rating and issued a $102.00 price target (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Jefferies Group LLC reduced their price target on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Finally, Citigroup Inc. restated a “buy” rating and issued a $126.00 price target (up previously from $102.00) on shares of Weibo Corporation in a research report on Thursday, September 14th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $85.28.
Weibo Corporation (WB) opened at 100.40 on Friday. Weibo Corporation has a one year low of $40.12 and a one year high of $108.30.
Weibo Corporation (NASDAQ:WB) last released its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $253.37 million for the quarter, compared to analysts’ expectations of $246.78 million. During the same quarter last year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 72.5% compared to the same quarter last year. Analysts predict that Weibo Corporation will post $1.64 EPS for the current year.
A number of hedge funds have recently bought and sold shares of WB. Castleark Management LLC bought a new position in Weibo Corporation during the second quarter valued at $110,000. Catamount Wealth Management bought a new position in Weibo Corporation during the second quarter valued at $113,000. Oppenheimer Asset Management Inc. bought a new position in Weibo Corporation during the first quarter valued at $162,000. Victory Capital Management Inc. increased its position in Weibo Corporation by 16.0% during the first quarter. Victory Capital Management Inc. now owns 3,894 shares of the information services provider’s stock valued at $203,000 after acquiring an additional 537 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Weibo Corporation during the second quarter valued at $223,000. Institutional investors and hedge funds own 19.56% of the company’s stock.
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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