Jefferies Group restated their buy rating on shares of Weibo Corp. (NASDAQ:WB) in a report released on Monday morning. Jefferies Group currently has a $60.00 price target on the stock, up from their previous price target of $43.00.
Several other analysts also recently commented on WB. Citigroup Inc. started coverage on shares of Weibo Corp. in a report on Friday, August 5th. They set a buy rating for the company. JPMorgan Chase & Co. started coverage on shares of Weibo Corp. in a research report on Wednesday, August 31st. They issued an overweight rating and a $70.00 target price for the company. Zacks Investment Research upgraded shares of Weibo Corp. from a hold rating to a buy rating and set a $48.00 price objective for the company in a research report on Saturday, August 13th. Piper Jaffray Cos. reiterated an overweight rating and set a $43.00 price objective on shares of Weibo Corp. in a research report on Thursday, August 11th. Finally, Goldman Sachs Group Inc. upped their price objective on shares of Weibo Corp. from $25.40 to $40.00 and gave the stock a neutral rating in a research report on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $43.71.
Shares of Weibo Corp. (NASDAQ:WB) opened at 53.08 on Monday. Weibo Corp. has a 12-month low of $12.09 and a 12-month high of $55.59. The stock’s 50 day moving average is $48.63 and its 200 day moving average is $32.44. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 176.93 and a beta of 2.70.
Weibo Corp. (NASDAQ:WB) last released its quarterly earnings data on Monday, August 8th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $146.90 million for the quarter, compared to analyst estimates of $141.15 million. Weibo Corp. had a net margin of 12.33% and a return on equity of 10.62%. Weibo Corp.’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Equities analysts expect that Weibo Corp. will post $0.74 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Weibo Corp. by 0.9% in the second quarter. BlackRock Inc. now owns 4,159 shares of the company’s stock worth $118,000 after buying an additional 39 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Weibo Corp. during the second quarter worth approximately $216,000. Bank of Montreal Can purchased a new stake in Weibo Corp. during the second quarter worth approximately $236,000. Cubist Systematic Strategies LLC purchased a new stake in Weibo Corp. during the second quarter worth approximately $253,000. Finally, Cadence Capital Management LLC purchased a new stake in Weibo Corp. during the second quarter worth approximately $256,000. 12.33% of the stock is currently owned by institutional investors.
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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