Weibo (NASDAQ:WB) Cut to “Hold” at StockNews.com

Weibo (NASDAQ:WB – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other analysts have also issued research reports about the stock. CLSA dropped their price target on shares of Weibo from $45.00 to $42.70 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research downgraded shares of Weibo from a “hold” rating to a “sell” rating in a report on Wednesday. UBS Group downgraded shares of Weibo from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $27.80 in a report on Friday, March 11th. Benchmark reduced their price target on shares of Weibo from $70.00 to $56.00 and set a “buy” rating for the company in a report on Friday, March 4th. Finally, 86 Research raised shares of Weibo from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Friday, March 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $44.20.

WB opened at $21.50 on Thursday. The company’s 50 day simple moving average is $23.26 and its 200 day simple moving average is $30.23. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.22 and a current ratio of 2.22. Weibo has a 1 year low of $18.62 and a 1 year high of $64.70. The stock has a market capitalization of $5.09 billion, a PE ratio of 11.62, a P/E/G ratio of 0.70 and a beta of 0.88.

Weibo (NASDAQ:WB – Get Rating) last posted its quarterly earnings results on Thursday, March 3rd. The information services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.25). The business had revenue of $616.30 million during the quarter, compared to analysts’ expectations of $607.41 million. Weibo had a net margin of 18.98% and a return on equity of 13.38%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. As a group, sell-side analysts expect that Weibo will post 2.43 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in WB. Krane Funds Advisors LLC boosted its position in Weibo by 74.0% during the third quarter. Krane Funds Advisors LLC now owns 1,206,060 shares of the information services provider’s stock worth $57,276,000 after purchasing an additional 512,861 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Weibo during the fourth quarter worth approximately $143,502,000. Parallel Advisors LLC lifted its holdings in shares of Weibo by 331.3% during the fourth quarter. Parallel Advisors LLC now owns 828 shares of the information services provider’s stock worth $26,000 after buying an additional 636 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new position in shares of Weibo in the fourth quarter valued at $297,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Weibo by 14.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 12,227 shares of the information services provider’s stock valued at $581,000 after purchasing an additional 1,500 shares in the last quarter. 71.37% of the stock is owned by institutional investors and hedge funds.

About Weibo (Get Rating)

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.

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