Weibo (NASDAQ:WB – Free Report) had its price objective upped by Citigroup from $11.00 to $12.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.
A number of other research analysts have also issued reports on the stock. Nomura Securities upgraded shares of Weibo to a hold rating in a report on Monday, August 26th. 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 report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Weibo currently has a consensus rating of Hold and a consensus price target of $10.23.
Read Our Latest Report on Weibo
Weibo Price Performance
Weibo (NASDAQ:WB – Get Free Report) last released its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The company had revenue of $437.90 million for the quarter, compared to analyst estimates of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. On average, equities research analysts predict that Weibo will post 1.48 EPS for the current fiscal year.
Institutional Trading of Weibo
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Deltec Asset Management LLC acquired a new stake in Weibo in the second quarter valued at approximately $82,000. Seven Eight Capital LP acquired a new stake in Weibo in the second quarter valued at approximately $110,000. Bayesian Capital Management LP acquired a new stake in Weibo in the first quarter valued at approximately $123,000. XY Capital Ltd acquired a new stake in Weibo in the first quarter valued at approximately $140,000. Finally, Caxton Associates LP increased its stake in shares of Weibo by 55.9% in the second quarter. Caxton Associates LP now owns 50,239 shares of the information services provider’s stock worth $386,000 after buying an additional 18,008 shares during the last quarter. 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, 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.
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