Weibo Co. (NASDAQ:WB) Given Consensus Rating of “Hold” by Brokerages

Weibo Co. (NASDAQ:WB) has been given a consensus rating of “Hold” by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.23.

A number of equities analysts recently issued reports on the company. Citigroup increased their target price on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of Weibo in a report on Wednesday. Morgan Stanley lowered their target price 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. Nomura Securities upgraded Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

Hedge Funds Weigh In On Weibo

Several institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Weibo by 17.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after buying an additional 1,970 shares during the last quarter. State Street Corp raised its holdings in shares of Weibo by 0.7% in the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after purchasing an additional 6,369 shares during the period. Quadrature Capital Ltd grew its holdings in Weibo by 22.8% during the third quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 7,508 shares during the period. SG Americas Securities LLC increased its position in Weibo by 21.5% in the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock worth $397,000 after buying an additional 9,143 shares during the last quarter. Finally, Deltec Asset Management LLC bought a new stake in shares of Weibo in the second quarter valued at $82,000. 68.77% of the stock is owned by institutional investors.

Weibo Price Performance

WB stock opened at $9.18 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. The company’s 50-day moving average is $9.04 and its 200-day moving average is $8.51. The stock has a market capitalization of $2.15 billion, a PE ratio of 7.17 and a beta of 0.24. Weibo has a 1 year low of $7.03 and a 1 year high of $12.40.

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

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.