Weibo (NASDAQ:WB) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Weibo (NASDAQ:WB) from a hold rating to a sell rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “

Other equities research analysts also recently issued research reports about the company. Nomura set a $48.00 price objective on Weibo and gave the company a hold rating in a report on Wednesday, August 21st. BidaskClub downgraded Weibo from a buy rating to a hold rating in a report on Friday, November 15th. Credit Suisse Group downgraded Weibo from an outperform rating to a neutral rating in a report on Thursday, November 14th. Jefferies Financial Group upgraded Weibo from a hold rating to a buy rating and set a $59.00 price objective for the company in a report on Friday, October 18th. Finally, ValuEngine downgraded Weibo from a hold rating to a sell rating in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Weibo currently has an average rating of Hold and a consensus target price of $55.73.

NASDAQ WB traded up $0.27 on Thursday, reaching $41.70. The company had a trading volume of 1,670,060 shares, compared to its average volume of 2,208,558. The stock’s 50 day moving average is $48.43 and its 200-day moving average is $45.46. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 16.55 and a beta of 2.23. The company has a quick ratio of 3.58, a current ratio of 4.51 and a debt-to-equity ratio of 0.79. Weibo has a 52 week low of $34.26 and a 52 week high of $74.68.

Weibo (NASDAQ:WB) last released its quarterly earnings data on Thursday, November 14th. The information services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $467.75 million during the quarter, compared to the consensus estimate of $471.84 million. Weibo had a return on equity of 28.88% and a net margin of 31.79%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. As a group, analysts forecast that Weibo will post 2.28 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Private Capital Group LLC acquired a new position in Weibo in the second quarter valued at about $36,000. Bank of New York Mellon Corp boosted its position in shares of Weibo by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 90,806 shares of the information services provider’s stock worth $3,955,000 after buying an additional 513 shares during the period. Pillar Pacific Capital Management LLC boosted its position in shares of Weibo by 0.9% during the third quarter. Pillar Pacific Capital Management LLC now owns 93,939 shares of the information services provider’s stock worth $4,203,000 after buying an additional 881 shares during the period. MML Investors Services LLC boosted its position in shares of Weibo by 31.2% during the second quarter. MML Investors Services LLC now owns 4,984 shares of the information services provider’s stock worth $217,000 after buying an additional 1,186 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Weibo during the third quarter worth about $55,000. 27.41% of the stock is owned by hedge funds and other institutional investors.

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.

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