Weibo’s (WB) Hold Rating Reiterated at Benchmark

Benchmark reissued their hold rating on shares of Weibo (NASDAQ:WB) in a report released on Wednesday morning,Benzinga reports.

A number of other research firms have also weighed in on WB. Citigroup increased their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley reduced their price objective on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Nomura Securities upgraded shares of Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, StockNews.com downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Weibo presently has an average rating of “Hold” and a consensus target price of $10.23.

Weibo Stock Up 1.4 %

Shares of NASDAQ WB opened at $9.18 on Wednesday. The firm’s 50-day moving average price is $9.04 and its 200-day moving average price is $8.51. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 6.29 and a beta of 0.24. Weibo has a 12-month low of $7.03 and a 12-month high of $12.40.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Weibo had a net margin of 21.30% and a return on equity of 11.26%. The company had revenue of $437.90 million for the quarter, compared to analyst estimates of $437.97 million. During the same period in the prior year, the company posted $0.42 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Weibo will post 1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Weibo

Several institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after acquiring an additional 1,970 shares in the last quarter. State Street Corp raised its holdings in shares of Weibo by 0.7% in the third quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after buying an additional 6,369 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Weibo by 22.8% in the third quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock worth $408,000 after buying an additional 7,508 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Weibo by 21.5% in the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock worth $397,000 after buying an additional 9,143 shares during the last quarter. Finally, Deltec Asset Management LLC purchased a new position in shares of Weibo in the second quarter worth $82,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

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.