Weibo (WB) Stock Rating Lowered by Zacks Investment Research

Weibo (NASDAQ:WB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “

Several other analysts have also commented on the stock. BidaskClub upgraded shares of Weibo from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 14th. JPMorgan Chase raised their price target on shares of Weibo from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Jefferies Group raised their price target on shares of Weibo to $160.00 and gave the company a “buy” rating in a research report on Tuesday, March 13th. Barclays restated an “overweight” rating and set a $150.00 price target on shares of Weibo in a research report on Wednesday, February 14th. Finally, Benchmark increased their price objective on shares of Weibo from $110.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Weibo presently has a consensus rating of “Buy” and a consensus target price of $134.67.

NASDAQ:WB opened at $101.80 on Wednesday. The firm has a market capitalization of $23.13 billion, a PE ratio of 65.26 and a beta of 2.61. Weibo has a 1-year low of $103.31 and a 1-year high of $105.36. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.66.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Wednesday, May 9th. The information services provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The company had revenue of $319.90 million for the quarter, compared to analyst estimates of $343.91 million. Weibo had a net margin of 31.12% and a return on equity of 36.15%. The firm’s revenue was up 60.6% on a year-over-year basis. During the same quarter last year, the business earned $0.26 earnings per share. research analysts predict that Weibo will post 2.72 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Weibo by 18.6% during the first quarter. Legal & General Group Plc now owns 190,516 shares of the information services provider’s stock valued at $22,775,000 after purchasing an additional 29,946 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Weibo in the first quarter worth about $568,000. Point72 Asia Hong Kong Ltd lifted its stake in shares of Weibo by 20.8% in the first quarter. Point72 Asia Hong Kong Ltd now owns 134,924 shares of the information services provider’s stock worth $16,129,000 after buying an additional 23,210 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Weibo by 195.3% in the first quarter. Cubist Systematic Strategies LLC now owns 8,239 shares of the information services provider’s stock worth $985,000 after buying an additional 5,449 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Weibo by 77.9% in the first quarter. Point72 Asset Management L.P. now owns 24,900 shares of the information services provider’s stock worth $2,977,000 after buying an additional 10,900 shares in the last quarter. 22.52% of the stock is currently owned by institutional investors and hedge funds.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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