Analysts Set Weibo Corp (NASDAQ:WB) Price Target at $58.22

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Weibo Corp (NASDAQ:WB) has received a consensus rating of “Hold” from the nineteen research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $58.22.

A number of brokerages have issued reports on WB. TheStreet lowered Weibo from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Zacks Investment Research lowered Weibo from a “hold” rating to a “sell” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. lowered Weibo from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Tuesday, May 28th. Benchmark reaffirmed a “buy” rating and set a $51.00 price target (down from $81.00) on shares of Weibo in a research note on Friday, May 24th. Finally, HSBC lowered Weibo from a “hold” rating to a “reduce” rating and set a $45.54 price target for the company. in a research note on Friday, May 24th.

WB opened at $42.41 on Monday. Weibo has a 12 month low of $40.31 and a 12 month high of $112.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.44 and a current ratio of 3.44. The company has a market capitalization of $9.84 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 0.82 and a beta of 2.33.

Weibo (NASDAQ:WB) last posted its earnings results on Thursday, May 23rd. The information services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. Weibo had a return on equity of 37.16% and a net margin of 35.25%. The firm had revenue of $399.18 million for the quarter, compared to analysts’ expectations of $399.65 million. During the same period last year, the firm earned $0.50 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, research analysts expect that Weibo will post 2.57 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tealwood Asset Management Inc. boosted its position in shares of Weibo by 4.6% in the first quarter. Tealwood Asset Management Inc. now owns 40,724 shares of the information services provider’s stock worth $2,524,000 after buying an additional 1,794 shares during the period. Oaktree Capital Management LP boosted its position in shares of Weibo by 6.1% in the fourth quarter. Oaktree Capital Management LP now owns 431,600 shares of the information services provider’s stock worth $25,218,000 after buying an additional 25,000 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Weibo by 112.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 212,467 shares of the information services provider’s stock worth $12,414,000 after buying an additional 112,400 shares during the period. Penserra Capital Management LLC boosted its position in shares of Weibo by 2.1% in the first quarter. Penserra Capital Management LLC now owns 51,345 shares of the information services provider’s stock worth $3,182,000 after buying an additional 1,060 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in shares of Weibo in the fourth quarter worth $58,000. 26.19% of the stock is owned by institutional investors and hedge funds.

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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