StockNews.com Lowers Weibo (NASDAQ:WB) to Hold

StockNews.com cut shares of Weibo (NASDAQ:WB - Free Report) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Other research analysts also recently issued reports about the company. Citigroup upped their price target on Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a report on Monday, September 30th. Morgan Stanley lowered their target price on Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday, August 23rd. Finally, Nomura Securities raised Weibo to a "hold" rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $10.23.

Weibo Trading Down 3.2 %

NASDAQ WB opened at $8.99 on Thursday. Weibo has a 12 month low of $7.03 and a 12 month high of $12.65. The stock has a market cap of $2.11 billion, a P/E ratio of 7.26, a P/E/G ratio of 1.63 and a beta of 0.23. The stock's fifty day moving average price is $8.45 and its 200-day moving average price is $8.46. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55.

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

Hedge Funds Weigh In On Weibo

Several institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in Weibo by 199.1% in 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 acquiring an additional 2,047,135 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Weibo in the 2nd quarter worth approximately $1,398,000. Krane Funds Advisors LLC increased its position in shares of Weibo by 17.4% during the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider's stock valued at $29,213,000 after purchasing an additional 564,068 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Weibo by 65.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider's stock valued at $1,082,000 after buying an additional 46,898 shares during the period. Finally, Quadrature Capital Ltd lifted its position in Weibo by 47.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider's stock worth $531,000 after buying an additional 15,715 shares during the last quarter. Hedge funds and other institutional investors 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, discover, and distribute 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.