Weibo (NASDAQ:WB) Price Target Increased to $12.00 by Analysts at Citigroup

Weibo (NASDAQ:WB) had its target price hoisted by Citigroup from $11.00 to $12.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other research analysts have also issued research reports about the company. Nomura Securities upgraded Weibo to a hold rating in a research report on Monday, August 26th. Morgan Stanley dropped their price objective on Weibo from $8.00 to $7.50 and set an underweight rating for the company in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Weibo has a consensus rating of Hold and an average price target of $10.23.

Weibo Trading Up 1.7 %

WB opened at $10.08 on Monday. The stock has a 50-day moving average of $7.74 and a 200 day moving average of $8.35. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. Weibo has a 12 month low of $7.03 and a 12 month high of $13.54. The firm has a market cap of $2.36 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.67 and a beta of 0.22.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The firm had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that Weibo will post 1.48 EPS for the current year.

Institutional Trading of Weibo

A number of large investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. increased its holdings in Weibo by 4.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 134,393 shares of the information services provider’s stock worth $1,222,000 after purchasing an additional 6,000 shares during the period. SG Americas Securities LLC increased its stake in shares of Weibo by 21.5% during the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after buying an additional 9,143 shares during the period. Deltec Asset Management LLC bought a new stake in shares of Weibo in the second quarter valued at about $82,000. Bayesian Capital Management LP purchased a new stake in Weibo in the first quarter worth about $123,000. Finally, Seven Eight Capital LP bought a new position in Weibo during the 2nd quarter worth about $110,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

About Weibo

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.