Weibo Co. (NASDAQ:WB) Receives $10.23 Consensus Price Target from Analysts

Weibo Co. (NASDAQ:WB) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.23.

WB has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Benchmark reissued a “hold” rating on shares of Weibo in a research note on Wednesday. StockNews.com cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Citigroup raised their target price on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Nomura Securities raised shares of Weibo to a “hold” rating in a research note on Monday, August 26th.

Weibo Price Performance

Shares of WB opened at $8.92 on Friday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 6.11 and a beta of 0.24. Weibo has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a 50 day moving average of $9.12 and a 200-day moving average of $8.52. The company has a quick ratio of 2.34, a current ratio of 3.57 and a debt-to-equity ratio of 0.51.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. The company had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. Weibo had a net margin of 21.30% and a return on equity of 11.03%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, equities research analysts forecast that Weibo will post 1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Weibo

A number of hedge funds and other institutional investors have recently modified their holdings of WB. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Weibo during the first quarter worth $7,435,000. Lazard Asset Management LLC raised its stake in Weibo by 9.9% in the first quarter. Lazard Asset Management LLC now owns 207,646 shares of the information services provider’s stock valued at $1,887,000 after purchasing an additional 18,630 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Weibo in the first quarter valued at about $123,000. SG Americas Securities LLC raised its stake in Weibo by 21.5% in the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after purchasing an additional 9,143 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new position in Weibo in the second quarter valued at about $82,000. Institutional investors and hedge funds 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.