Weibo (NASDAQ:WB) PT Lowered to $39.00

Weibo (NASDAQ:WBGet Rating) had its target price reduced by analysts at Benchmark from $56.00 to $39.00 in a note issued to investors on Wednesday, The Fly reports. Benchmark’s price target suggests a potential upside of 78.00% from the stock’s previous close.

A number of other brokerages have also commented on WB. Zacks Investment Research lowered shares of Weibo from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. CLSA decreased 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, May 18th. JPMorgan Chase & Co. reduced their target price on shares of Weibo from $32.00 to $24.00 in a research note on Monday, March 14th. The Goldman Sachs Group assumed coverage on shares of Weibo in a research note on Sunday, April 10th. They issued a “hold” rating and a $37.50 target price for the company. Finally, UBS Group lowered shares of Weibo from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $27.80 in a research note on Friday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.50.

Shares of Weibo stock traded down $0.09 during trading on Wednesday, reaching $21.91. 64,646 shares of the company traded hands, compared to its average volume of 879,187. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.22 and a quick ratio of 2.22. Weibo has a 1-year low of $18.62 and a 1-year high of $64.70. The company has a 50 day moving average price of $22.75 and a 200-day moving average price of $28.68. The firm has a market capitalization of $5.18 billion, a PE ratio of 11.84, a P/E/G ratio of 0.74 and a beta of 0.89.

Weibo (NASDAQ:WBGet Rating) last released its earnings results on Wednesday, June 1st. The information services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. The company had revenue of $484.60 million for the quarter, compared to the consensus estimate of $473.58 million. Weibo had a net margin of 18.98% and a return on equity of 13.38%. Weibo’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. Equities research analysts expect that Weibo will post 2.38 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Krane Funds Advisors LLC lifted its holdings 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 valued at $57,276,000 after purchasing an additional 512,861 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Weibo during the fourth quarter valued at about $143,502,000. Renaissance Technologies LLC lifted its holdings in Weibo by 669.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,117,061 shares of the information services provider’s stock valued at $34,607,000 after purchasing an additional 971,853 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in Weibo during the fourth quarter valued at about $77,000. Finally, Parallel Advisors LLC lifted its holdings in Weibo by 331.3% during the fourth quarter. Parallel Advisors LLC now owns 828 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 636 shares during the last quarter. Institutional investors own 71.37% of the company’s stock.

Weibo Company Profile (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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