Weibo (WB) Shares Gap Down to $117.51
Weibo Corp (NASDAQ:WB) shares gapped down before the market opened on Monday . The stock had previously closed at $117.35, but opened at $117.51. Weibo shares last traded at $117.51, with a volume of 2714989 shares.
A number of brokerages have weighed in on WB. Zacks Investment Research raised Weibo from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. BidaskClub raised Weibo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Barclays increased their price target on Weibo to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 10th. Morgan Stanley began coverage on Weibo in a research note on Friday, January 5th. They set an “overweight” rating and a $130.00 price target on the stock. Finally, UBS Group began coverage on Weibo in a research note on Tuesday, January 2nd. They set a “buy” rating and a $125.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $104.85.
The firm has a market capitalization of $25,690.00, a price-to-earnings ratio of 100.44 and a beta of 2.63.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc increased its holdings 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 purchasing an additional 990 shares in the last quarter. YorkBridge Wealth Partners LLC acquired a new stake in Weibo in the 3rd quarter valued at $105,000. Risk Paradigm Group LLC acquired a new stake in Weibo in the 3rd quarter valued at $109,000. Castleark Management LLC acquired a new stake in Weibo in the 2nd quarter valued at $110,000. Finally, Ipswich Investment Management Co. Inc. acquired a new stake in Weibo in the 4th quarter valued at $208,000. Hedge funds and other institutional investors own 22.05% of the company’s stock.
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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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