Weibo (NASDAQ:WB) Lowered to “Hold” at BidaskClub
Several other equities research analysts also recently commented on the stock. Barclays set a $55.00 price objective on shares of Weibo and gave the stock a buy rating in a research note on Wednesday, August 21st. ValuEngine downgraded shares of Weibo from a hold rating to a sell rating in a research note on Monday, November 11th. Jefferies Financial Group upgraded shares of Weibo from a hold rating to a buy rating and set a $59.00 price objective for the company in a research note on Friday, October 18th. Zacks Investment Research downgraded shares of Weibo from a buy rating to a hold rating in a research note on Saturday, October 26th. Finally, Nomura set a $48.00 price objective on shares of Weibo and gave the stock a hold rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $55.73.
Shares of NASDAQ:WB traded up $0.11 during trading on Friday, reaching $43.55. The company’s stock had a trading volume of 4,577,300 shares, compared to its average volume of 1,495,584. The stock has a market capitalization of $11.88 billion, a PE ratio of 17.28 and a beta of 2.23. The firm’s 50 day simple moving average is $48.75 and its two-hundred day simple moving average is $46.23. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.44. Weibo has a 12 month low of $34.26 and a 12 month high of $74.68.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tealwood Asset Management Inc. lifted its position in Weibo by 5.1% during the second quarter. Tealwood Asset Management Inc. now owns 42,798 shares of the information services provider’s stock valued at $1,864,000 after purchasing an additional 2,074 shares during the period. Atria Investments LLC purchased a new position in Weibo in the second quarter valued at $1,739,000. First Trust Advisors LP increased its holdings in Weibo by 49.4% in the second quarter. First Trust Advisors LP now owns 49,981 shares of the information services provider’s stock valued at $2,177,000 after buying an additional 16,519 shares in the last quarter. Banco Santander S.A. purchased a new position in Weibo in the third quarter valued at $15,663,000. Finally, KBC Group NV increased its holdings in Weibo by 15.4% in the second quarter. KBC Group NV now owns 152,044 shares of the information services provider’s stock valued at $6,621,000 after buying an additional 20,330 shares in the last quarter. Institutional investors own 25.73% of the company’s stock.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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