Weibo (NASDAQ:WB) Given New $38.00 Price Target at China Renaissance Securities

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Weibo (NASDAQ:WB) had its price target decreased by China Renaissance Securities from $40.00 to $38.00 in a report published on Tuesday, The Fly reports.

Several other research analysts have also recently issued reports on the stock. Credit Suisse Group increased their price objective on shares of Weibo from $36.40 to $40.00 and gave the company a neutral rating in a report on Tuesday. They noted that the move was a valuation call. ValuEngine upgraded shares of Weibo from a sell rating to a hold rating in a report on Saturday, September 5th. BidaskClub upgraded shares of Weibo from a sell rating to a hold rating in a report on Wednesday, December 23rd. CLSA increased their price objective on shares of Weibo from $42.50 to $47.50 and gave the company a buy rating in a report on Tuesday. Finally, Zacks Investment Research cut shares of Weibo from a hold rating to a sell rating in a report on Friday, September 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $42.06.

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Shares of NASDAQ:WB opened at $40.99 on Tuesday. The firm’s 50 day moving average is $43.46 and its two-hundred day moving average is $38.35. Weibo has a 52 week low of $28.93 and a 52 week high of $52.33. The firm has a market capitalization of $9.22 billion, a P/E ratio of 19.07, a PEG ratio of 3.35 and a beta of 1.64. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.67.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Sunday, December 27th. The information services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. Weibo had a net margin of 29.86% and a return on equity of 21.27%. The company had revenue of $465.70 million for the quarter, compared to analyst estimates of $450.89 million. During the same quarter last year, the business earned $0.77 earnings per share. Weibo’s revenue was down .4% compared to the same quarter last year. Analysts predict that Weibo will post 1.75 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Weibo in the 3rd quarter worth approximately $60,000. Point72 Hong Kong Ltd acquired a new position in Weibo in the 3rd quarter worth approximately $256,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Weibo in the 3rd quarter worth approximately $260,000. US Bancorp DE boosted its stake in Weibo by 3.3% in the 3rd quarter. US Bancorp DE now owns 9,710 shares of the information services provider’s stock worth $353,000 after purchasing an additional 313 shares during the period. Finally, Exane Derivatives boosted its stake in Weibo by 46.3% in the 3rd quarter. Exane Derivatives now owns 11,194 shares of the information services provider’s stock worth $408,000 after purchasing an additional 3,545 shares during the period. 25.39% of the stock is owned by hedge funds and other institutional investors.

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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