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

Shares of Weibo Co. (NASDAQ:WB) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.23.

A number of research firms have issued reports on WB. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley cut 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 report on Monday, August 26th. Finally, Citigroup lifted their price target on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th.

Institutional Trading of Weibo

Several institutional investors have recently modified their holdings of the company. Deltec Asset Management LLC acquired a new position in Weibo in the second quarter worth approximately $82,000. Seven Eight Capital LP acquired a new stake in shares of Weibo during the second quarter worth $110,000. Creative Planning purchased a new stake in shares of Weibo during the third quarter valued at $112,000. Bayesian Capital Management LP acquired a new position in shares of Weibo in the 1st quarter valued at $123,000. Finally, Diversified Trust Co acquired a new stake in Weibo during the 3rd quarter worth about $194,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Trading Up 3.5 %

Weibo stock opened at $9.59 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. Weibo has a 1 year low of $7.03 and a 1 year high of $12.65. The firm’s 50-day moving average is $8.60 and its 200-day moving average is $8.45. The company has a market cap of $2.25 billion, a P/E ratio of 7.54, a PEG ratio of 1.56 and a beta of 0.23.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. Weibo’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities analysts expect that Weibo will post 1.48 earnings per share for the current year.

About Weibo

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.