Weibo Corp. (NASDAQ:WB) had its price objective raised by research analysts at T.H. Capital from $38.00 to $60.00 in a research note issued on Friday. The firm presently has a “buy” rating on the stock. T.H. Capital’s price objective indicates a potential upside of 14.00% from the company’s previous close.
A number of other research firms have also issued reports on WB. JPMorgan Chase & Co. started coverage on Weibo Corp. in a report on Wednesday, August 31st. They set an “overweight” rating and a $70.00 price target on the stock. Goldman Sachs Group Inc. raised their price target on Weibo Corp. from $25.40 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Piper Jaffray Cos. reissued an “overweight” rating and set a $43.00 price target on shares of Weibo Corp. in a report on Thursday, August 11th. Zacks Investment Research raised Weibo Corp. from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Saturday, August 13th. Finally, Jefferies Group set a $40.00 price target on Weibo Corp. and gave the stock a “buy” rating in a report on Tuesday, August 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $49.29.
Weibo Corp. (NASDAQ:WB) traded down 0.23% during trading on Friday, reaching $52.51. The company had a trading volume of 248,304 shares. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 175.03 and a beta of 2.70. Weibo Corp. has a 1-year low of $12.09 and a 1-year high of $55.59. The firm has a 50-day moving average of $48.88 and a 200-day moving average of $32.58.
Weibo Corp. (NASDAQ:WB) last posted its earnings results on Monday, August 8th. The company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. Weibo Corp. had a return on equity of 10.62% and a net margin of 12.33%. The business had revenue of $146.90 million for the quarter, compared to analysts’ expectations of $141.15 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was up 36.3% compared to the same quarter last year. On average, analysts anticipate that Weibo Corp. will post $0.73 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Weibo Corp. by 0.9% in the second quarter. BlackRock Inc. now owns 4,159 shares of the company’s stock valued at $118,000 after buying an additional 39 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Weibo Corp. during the second quarter valued at approximately $216,000. BNP Paribas Arbitrage SA raised its stake in shares of Weibo Corp. by 116,800.0% in the third quarter. BNP Paribas Arbitrage SA now owns 8,183 shares of the company’s stock valued at $410,000 after buying an additional 8,176 shares during the period. Bank of Montreal Can purchased a new stake in shares of Weibo Corp. during the second quarter valued at approximately $236,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Weibo Corp. during the second quarter valued at approximately $253,000. 12.33% of the stock is currently owned by institutional investors and hedge funds.
Weibo Corp. Company Profile
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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