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

StockNews.com upgraded shares of Weibo (NASDAQ:WB - Free Report) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other equities research analysts have also recently commented on the stock. Nomura Securities upgraded shares of Weibo to a "hold" rating in a report on Monday, August 26th. Citigroup raised their price target on shares of Weibo from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Morgan Stanley reduced their price target on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a report on Friday, August 23rd. Finally, Benchmark restated a "hold" rating on shares of Weibo in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $10.23.

Weibo Trading Up 2.3 %

Shares of WB traded up $0.22 during trading hours on Friday, hitting $9.82. 820,565 shares of the stock were exchanged, compared to its average volume of 1,995,257. Weibo has a fifty-two week low of $7.03 and a fifty-two week high of $12.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. The business has a 50-day moving average of $9.43 and a 200-day moving average of $8.50. The firm has a market capitalization of $2.30 billion, a P/E ratio of 6.58 and a beta of 0.27.

Hedge Funds Weigh In On Weibo

Several hedge funds have recently bought and sold shares of WB. SG Americas Securities LLC grew its stake in Weibo by 21.5% during the second 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. Deltec Asset Management LLC purchased a new position in Weibo during the second quarter valued at approximately $82,000. Acadian Asset Management LLC grew its stake in Weibo by 204.5% during the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider's stock valued at $18,678,000 after acquiring an additional 1,634,230 shares in the last quarter. Headlands Technologies LLC purchased a new position in Weibo in the 2nd quarter worth approximately $1,398,000. Finally, Krane Funds Advisors LLC grew 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 buying an additional 564,068 shares in the last quarter. Hedge funds and other institutional investors own 68.77% of the company's stock.

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.