Weibo (WB) Lowered to “Hold” at BidaskClub
BidaskClub cut shares of Weibo (NASDAQ:WB) from a buy rating to a hold rating in a research report sent to investors on Saturday.
Several other equities analysts have also recently issued reports on the company. Benchmark dropped their target price on Weibo from $110.00 to $95.00 and set a buy rating on the stock in a research report on Wednesday, November 8th. Zacks Investment Research upgraded Weibo from a hold rating to a buy rating and set a $118.00 price target on the stock in a report on Tuesday, November 14th. Barclays upped their price target on Weibo from $100.00 to $120.00 and gave the stock an overweight rating in a report on Tuesday, November 14th. Citigroup restated a buy rating and issued a $126.00 price target (up previously from $102.00) on shares of Weibo in a report on Thursday, September 14th. Finally, Jefferies Group lowered their price target on Weibo from $105.00 to $82.00 and set a buy rating on the stock in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Weibo presently has an average rating of Buy and a consensus target price of $93.39.
Weibo (NASDAQ WB) opened at $100.41 on Friday. Weibo has a 52-week low of $40.12 and a 52-week high of $123.00. The stock has a market capitalization of $23,190.18, a P/E ratio of 88.84 and a beta of 2.54.
A number of hedge funds have recently bought and sold shares of WB. NEXT Financial Group Inc lifted its stake in Weibo by 9,900.0% in the 3rd quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock valued at $100,000 after buying an additional 990 shares in the last quarter. YorkBridge Wealth Partners LLC purchased a new stake in Weibo in the 3rd quarter valued at approximately $105,000. Risk Paradigm Group LLC purchased a new stake in Weibo in the 3rd quarter valued at approximately $109,000. Castleark Management LLC purchased a new stake in Weibo in the 2nd quarter valued at approximately $110,000. Finally, Catamount Wealth Management purchased a new stake in Weibo in the 2nd quarter valued at approximately $113,000. 21.98% of the stock is currently owned by hedge funds and other institutional investors.
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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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