Weibo (WB) Trading 5.1% Higher
Weibo Corp (NASDAQ:WB) traded up 5.1% during mid-day trading on Monday . The stock traded as high as $108.61 and last traded at $107.99. 1,675,564 shares were traded during trading, a decline of 17% from the average session volume of 2,020,466 shares. The stock had previously closed at $102.72.
Several equities research analysts recently issued reports on the stock. ValuEngine lowered shares of Weibo from a “hold” rating to a “sell” rating in a report on Friday, December 1st. BidaskClub lowered shares of Weibo from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Benchmark decreased their price target on shares of Weibo from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Citigroup reaffirmed a “buy” rating and set a $126.00 price target (up from $102.00) on shares of Weibo in a report on Thursday, September 14th. Finally, Barclays boosted their target price on shares of Weibo from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $97.31.
The company has a market capitalization of $23,889.22, a price-to-earnings ratio of 91.52 and a beta of 2.54.
Large investors have recently bought and sold shares of the company. NEXT Financial Group Inc boosted its stake in shares of 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 purchasing an additional 990 shares during the last quarter. YorkBridge Wealth Partners LLC bought a new stake in shares of Weibo in the 3rd quarter valued at $105,000. Risk Paradigm Group LLC bought a new stake in shares of Weibo in the 3rd quarter valued at $109,000. Castleark Management LLC bought a new stake in shares of Weibo in the 2nd quarter valued at $110,000. Finally, Pinnacle Financial Partners Inc. bought a new stake in shares of Weibo in the 3rd quarter valued at $220,000. 21.95% of the stock is currently owned by institutional investors.
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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