Weibo (NASDAQ:WB) PT Lowered to $38.00 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 research report report published on Tuesday, The Fly reports.
Several other research firms have also recently commented on WB. CLSA raised their target price on Weibo from $42.50 to $47.50 and gave the company a buy rating in a research report on Tuesday. Credit Suisse Group lifted their price objective on shares of Weibo from $36.40 to $40.00 and gave the company a neutral rating in a research note on Tuesday. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Weibo from a hold rating to a sell rating in a report on Friday, September 11th. BidaskClub raised shares of Weibo from a sell rating to a hold rating in a research note on Wednesday, December 23rd. Finally, ValuEngine raised shares of Weibo from a sell rating to a hold rating in a research note on Saturday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $42.06.
Weibo stock opened at $40.99 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.87 and a current ratio of 4.87. Weibo has a one year low of $28.93 and a one year high of $52.33. The company has a 50-day simple moving average of $43.57 and a 200-day simple moving average of $38.31. The firm has a market capitalization of $9.22 billion, a P/E ratio of 19.07, a P/E/G ratio of 3.35 and a beta of 1.64.
Weibo (NASDAQ:WB) last posted its earnings results on Sunday, December 27th. The information services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. Weibo had a net margin of 29.86% and a return on equity of 21.27%. The firm had revenue of $465.70 million during the quarter, compared to analyst estimates of $450.89 million. During the same period in the previous year, the business posted $0.77 EPS. Weibo’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Weibo will post 1.75 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of WB. US Bancorp DE increased 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 in the last quarter. Profund Advisors LLC raised its holdings in shares of Weibo by 2.7% during the third quarter. Profund Advisors LLC now owns 13,367 shares of the information services provider’s stock valued at $487,000 after acquiring an additional 356 shares during the period. Guggenheim Capital LLC lifted its position in shares of Weibo by 5.5% in the 3rd quarter. Guggenheim Capital LLC now owns 23,250 shares of the information services provider’s stock valued at $847,000 after acquiring an additional 1,219 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Weibo by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 70,126 shares of the information services provider’s stock worth $2,555,000 after purchasing an additional 1,222 shares during the period. Finally, Nuveen Asset Management LLC grew its position in Weibo by 1.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 78,970 shares of the information services provider’s stock worth $2,653,000 after purchasing an additional 1,300 shares in the last quarter. 25.39% of the stock is currently owned by 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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