Brokerages Set Weibo Co. (NASDAQ:WB) Target Price at $10.23

Weibo Co. (NASDAQ:WB) has been assigned an average rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.23.

Several brokerages have recently weighed in on WB. Citigroup raised their price target on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Benchmark restated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Finally, StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th.

Institutional Investors Weigh In On Weibo

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position in shares of 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 worth $18,678,000 after acquiring an additional 1,634,230 shares during the last quarter. Krane Funds Advisors LLC lifted its stake in 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 in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Weibo by 64.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock valued at $10,056,000 after purchasing an additional 511,248 shares during the last quarter. Polunin Capital Partners Ltd purchased a new position in shares of Weibo during the third quarter valued at about $5,064,000. Finally, Citigroup Inc. increased its holdings in shares of Weibo by 347.3% in the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after purchasing an additional 468,072 shares during the last quarter. 68.77% of the stock is owned by institutional investors.

Weibo Stock Performance

Shares of Weibo stock opened at $9.28 on Friday. The business has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $8.72. The firm has a market capitalization of $2.17 billion, a P/E ratio of 6.36 and a beta of 0.26. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51. Weibo has a 12 month low of $7.03 and a 12 month high of $12.40.

About Weibo

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