Weibo (NASDAQ:WB) Raised to Buy at StockNews.com

Weibo (NASDAQ:WB - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Wednesday.

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

Weibo Trading Down 2.4 %

NASDAQ:WB traded down $0.25 on Wednesday, reaching $10.01. The company's stock had a trading volume of 3,462,754 shares, compared to its average volume of 2,108,615. Weibo has a 12-month low of $7.03 and a 12-month high of $13.54. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 1.96 and a beta of 0.23. The stock has a 50 day moving average price of $8.23 and a 200 day moving average price of $8.44.

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

Institutional Trading of Weibo

A number of hedge funds have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC raised its stake 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 worth $29,213,000 after buying an additional 564,068 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Weibo by 199.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider's stock worth $33,675,000 after buying an additional 2,047,135 shares in the last quarter. Acadian Asset Management LLC increased its stake in Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider's stock valued at $18,678,000 after purchasing an additional 1,634,230 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Weibo by 64.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider's stock valued at $10,056,000 after purchasing an additional 511,248 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Weibo in the 1st quarter valued at approximately $7,435,000. 68.77% of the stock is owned by institutional investors and hedge funds.

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.

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