Weibo Co. (NASDAQ:WB) Receives $10.23 Average PT from Analysts

Weibo Co. (NASDAQ:WB - Get Free Report) has received a consensus recommendation of "Hold" from the seven research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.23.

Several equities research analysts have recently commented on the stock. Nomura Securities upgraded shares of Weibo to a "hold" rating in a research note on Monday, August 26th. StockNews.com downgraded shares of Weibo from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Citigroup raised their price objective on shares of Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Finally, Morgan Stanley reduced their target price on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a research report on Friday, August 23rd.

Weibo Stock Performance

Shares of NASDAQ:WB traded up $0.15 during midday trading on Friday, hitting $8.35. The company's stock had a trading volume of 1,141,129 shares, compared to its average volume of 1,347,271. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. The stock's 50 day simple moving average is $8.98 and its 200 day simple moving average is $8.52. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 6.52 and a beta of 0.24. Weibo has a fifty-two week low of $7.03 and a fifty-two week high of $12.47.

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

Hedge Funds Weigh In On Weibo

Several institutional investors and hedge funds have recently modified their holdings of WB. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Weibo by 17.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider's stock worth $134,000 after purchasing an additional 1,970 shares during the period. State Street Corp grew its holdings in shares of Weibo by 0.7% during the third quarter. State Street Corp now owns 931,749 shares of the information services provider's stock worth $9,392,000 after buying an additional 6,369 shares in the last quarter. Quadrature Capital Ltd raised its position in Weibo by 22.8% in the 3rd quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider's stock valued at $408,000 after buying an additional 7,508 shares during the last quarter. SG Americas Securities LLC lifted its stake in Weibo by 21.5% in the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider's stock valued at $397,000 after acquiring an additional 9,143 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new position in Weibo during the 2nd quarter worth approximately $82,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Weibo Company Profile

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.