Weibo (NASDAQ:WB) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Weibo (NASDAQ:WB) from a hold rating to a strong sell rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “

WB has been the subject of a number of other reports. Citigroup boosted their price objective on Weibo from $63.00 to $66.00 and gave the company a buy rating in a research note on Friday, November 12th. HSBC cut their price objective on Weibo from $46.00 to $45.00 and set a hold rating for the company in a research note on Friday, November 12th. Finally, The Goldman Sachs Group dropped their price target on Weibo from $54.00 to $44.50 and set a neutral rating for the company in a research note on Wednesday, December 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Weibo has an average rating of Hold and an average target price of $55.58.

NASDAQ WB opened at $34.24 on Thursday. Weibo has a 52 week low of $27.30 and a 52 week high of $64.70. The firm has a market capitalization of $8.03 billion, a P/E ratio of 23.14, a PEG ratio of 3.09 and a beta of 0.98. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $35.54 and a 200-day moving average price of $46.35.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Wednesday, November 10th. The information services provider reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.06. The firm had revenue of $607.43 million during the quarter, compared to analyst estimates of $575.79 million. Weibo had a net margin of 15.86% and a return on equity of 11.38%. During the same quarter in the prior year, the firm earned $0.15 EPS. As a group, equities research analysts anticipate that Weibo will post 2.1 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Eaton Vance Management boosted its position in Weibo by 56.0% during the third quarter. Eaton Vance Management now owns 780 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 280 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in Weibo by 101.7% during the second quarter. Banque Cantonale Vaudoise now owns 2,420 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 1,220 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Weibo during the second quarter valued at about $147,000. Exchange Traded Concepts LLC bought a new stake in Weibo during the fourth quarter valued at about $152,000. Finally, California State Teachers Retirement System bought a new stake in Weibo during the second quarter valued at about $173,000. 29.00% of the stock is currently owned by institutional investors and hedge funds.

About Weibo

Weibo Corp. engages in the creation, distribution, and discovery of Chinese-language content. It operates through the Advertising and Marketing Services, and Other Services segments. Its products and services include Self-Expression, such as Feed, Individual page, and Enterprise page; Social Products, such as Follow, Repost, Comment, Favorite, like, Mention, Messenger, and Group Chat; Discovery Products, such as Information Feed, Search, Object Page, Trends, and Discovery Channel; Notifications; Weibo Games; VIP Membership; and Weibo Apps.

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