ValuEngine Upgrades Weibo (NASDAQ:WB) to “Hold”

Weibo (NASDAQ:WB) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Weibo from a “strong sell” rating to a “hold” rating in a report on Friday, August 30th. Credit Suisse Group cut Weibo from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Nomura set a $48.00 price target on Weibo and gave the company a “hold” rating in a report on Wednesday, August 21st. BidaskClub cut Weibo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group began coverage on Weibo in a report on Monday, August 5th. They set a “hold” rating and a $43.60 price target for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $56.79.

Shares of WB traded up $1.37 during mid-day trading on Wednesday, reaching $47.57. The company had a trading volume of 2,015,747 shares, compared to its average volume of 2,219,802. Weibo has a twelve month low of $34.26 and a twelve month high of $74.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.58 and a quick ratio of 3.58. The company’s 50-day moving average is $44.46 and its 200-day moving average is $49.73. The company has a market capitalization of $10.71 billion, a P/E ratio of 18.88 and a beta of 2.21.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Monday, August 19th. The information services provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. Weibo had a return on equity of 32.08% and a net margin of 33.01%. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $434.79 million. During the same period last year, the firm posted $0.68 EPS. The business’s revenue was up 1.2% on a year-over-year basis. As a group, equities analysts expect that Weibo will post 2.4 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Weibo by 29.7% in the 2nd quarter. Invesco Ltd. now owns 4,591,978 shares of the information services provider’s stock worth $199,981,000 after purchasing an additional 1,052,658 shares during the last quarter. Platinum Investment Management Ltd. boosted its position in shares of Weibo by 11.9% in the 2nd quarter. Platinum Investment Management Ltd. now owns 3,096,729 shares of the information services provider’s stock worth $134,863,000 after purchasing an additional 328,248 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Weibo by 12.9% in the 2nd quarter. Wells Fargo & Company MN now owns 2,305,977 shares of the information services provider’s stock worth $100,425,000 after purchasing an additional 262,741 shares during the last quarter. Fiera Capital Corp boosted its position in shares of Weibo by 2.7% in the 2nd quarter. Fiera Capital Corp now owns 954,214 shares of the information services provider’s stock worth $41,556,000 after purchasing an additional 24,794 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Weibo by 2.0% in the 2nd quarter. Macquarie Group Ltd. now owns 818,196 shares of the information services provider’s stock worth $35,632,000 after purchasing an additional 16,128 shares during the last quarter. Hedge funds and other institutional investors own 25.83% of the company’s stock.

Weibo Company Profile

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

Further Reading: Price to Earnings Ratio (PE)

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Analyst Recommendations for Weibo (NASDAQ:WB)

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