Weibo (NASDAQ:WB) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Weibo (NASDAQ:WB) from a hold rating to a buy rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other analysts have also recently issued reports about the company. ValuEngine upgraded Weibo from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Barclays set a $55.00 price target on Weibo and gave the company a buy rating in a research report on Wednesday, August 21st. Zacks Investment Research upgraded Weibo from a strong sell rating to a hold rating in a research report on Friday, August 30th. Jefferies Financial Group assumed coverage on Weibo in a research report on Monday, August 5th. They issued a hold rating and a $43.60 price target on the stock. Finally, Nomura set a $48.00 price target on Weibo and gave the company a hold rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Weibo currently has a consensus rating of Hold and a consensus target price of $55.73.

Shares of NASDAQ WB opened at $47.55 on Wednesday. The business has a fifty day simple moving average of $46.93 and a 200 day simple moving average of $48.90. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 18.87 and a beta of 2.21. Weibo has a one year low of $34.26 and a one year high of $74.68.

Weibo (NASDAQ:WB) last issued its earnings results on Monday, August 19th. The information services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The business had revenue of $431.80 million during the quarter, compared to analyst estimates of $434.79 million. Weibo had a return on equity of 32.08% and a net margin of 33.01%. Weibo’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. On average, research analysts anticipate that Weibo will post 2.4 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in WB. Nordea Investment Management AB grew its holdings in Weibo by 8.2% during the 1st quarter. Nordea Investment Management AB now owns 62,554 shares of the information services provider’s stock worth $3,878,000 after acquiring an additional 4,725 shares in the last quarter. Hexavest Inc. acquired a new position in Weibo during the 2nd quarter worth approximately $1,226,000. Exane Derivatives grew its holdings in Weibo by 145.3% during the 2nd quarter. Exane Derivatives now owns 8,673 shares of the information services provider’s stock worth $378,000 after acquiring an additional 5,137 shares in the last quarter. NN Investment Partners Holdings N.V. grew its holdings in Weibo by 48.1% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 4,000 shares of the information services provider’s stock worth $174,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Weibo by 45.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,344 shares of the information services provider’s stock worth $232,000 after acquiring an additional 1,678 shares in the last quarter. Institutional investors own 25.82% of the company’s stock.

About Weibo

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.

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Analyst Recommendations for Weibo (NASDAQ:WB)

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