Weibo Co. (NASDAQ:WB) Receives Consensus Rating of “Hold” from Brokerages

Weibo Co. (NASDAQ:WB) has been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.65.

Separately, Morgan Stanley downgraded shares of Weibo from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $11.00 to $10.00 in a report on Friday, May 17th.

Institutional Investors Weigh In On Weibo

Large investors have recently made changes to their positions in the business. ARGA Investment Management LP increased its holdings in Weibo by 14.5% during the fourth quarter. ARGA Investment Management LP now owns 6,825,571 shares of the information services provider’s stock worth $74,740,000 after buying an additional 864,120 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Weibo by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 5,290,626 shares of the information services provider’s stock worth $57,932,000 after purchasing an additional 179,482 shares during the last quarter. Krane Funds Advisors LLC raised its holdings in shares of Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after purchasing an additional 564,068 shares during the period. Goldman Sachs Group Inc. lifted its stake in Weibo by 199.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock valued at $33,675,000 after purchasing an additional 2,047,135 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Weibo by 204.5% during the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after purchasing an additional 1,634,230 shares during the period. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Trading Down 2.2 %

WB opened at $7.86 on Thursday. The firm has a market capitalization of $1.84 billion, a PE ratio of 6.61, a P/E/G ratio of 1.39 and a beta of 0.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.24 and a quick ratio of 2.24. Weibo has a fifty-two week low of $7.17 and a fifty-two week high of $14.23. The company’s 50-day moving average is $8.02 and its 200 day moving average is $8.64.

Weibo (NASDAQ:WB) last posted its earnings results on Thursday, May 23rd. The information services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $395.50 million for the quarter, compared to analyst estimates of $396.50 million. Weibo had a return on equity of 10.92% and a net margin of 16.74%. As a group, research analysts predict that Weibo will post 1.41 earnings per share for the current fiscal year.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.