Weibo (NASDAQ:WB) PT Raised to $12.00

Weibo (NASDAQ:WB - Get Free Report) had its price target lifted by Citigroup from $11.00 to $12.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the information services provider's stock. Citigroup's price target would suggest a potential upside of 19.05% from the stock's previous close.

Several other research analysts have also commented on WB. Morgan Stanley dropped their price objective on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday, August 23rd. Nomura Securities raised Weibo to a "hold" rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $10.23.

Weibo Price Performance

WB stock traded up $0.17 during mid-day trading on Monday, hitting $10.08. The company had a trading volume of 6,072,873 shares, compared to its average volume of 2,003,344. The company has a 50-day moving average price of $7.74 and a 200 day moving average price of $8.35. Weibo has a 12-month low of $7.03 and a 12-month high of $13.54. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 1.67 and a beta of 0.22. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55.

Weibo (NASDAQ:WB - Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company had revenue of $437.90 million for the quarter, compared to analysts' expectations of $437.97 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. Weibo's quarterly revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that Weibo will post 1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Krane Funds Advisors LLC lifted its stake in Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider's stock worth $29,213,000 after purchasing an additional 564,068 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Weibo by 199.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider's stock worth $33,675,000 after purchasing an additional 2,047,135 shares during the period. Acadian Asset Management LLC grew its stake in shares of Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider's stock worth $18,678,000 after acquiring an additional 1,634,230 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Weibo by 64.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider's stock worth $10,056,000 after buying an additional 511,248 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Weibo during the 1st quarter worth approximately $7,435,000. Institutional investors and hedge funds own 68.77% of the company's stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.