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

StockNews.com lowered shares of Weibo (NASDAQ:WB) from a buy rating to a hold rating in a research note issued to investors on Friday.

A number of other brokerages also recently weighed in on WB. Morgan Stanley lowered their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Citigroup upped their target price on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Nomura Securities raised Weibo to a “hold” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Weibo currently has an average rating of “Hold” and an average price target of $10.23.

Weibo Trading Down 7.0 %

Weibo stock opened at $8.62 on Friday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 6.73 and a beta of 0.24. The firm has a 50-day moving average of $8.88 and a 200-day moving average of $8.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. Weibo has a one year low of $7.03 and a one year high of $12.54.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. The company had revenue of $437.90 million for the quarter, compared to analysts’ expectations of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, equities analysts expect that Weibo will post 1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WB. Deltec Asset Management LLC bought a new position in Weibo in the 2nd quarter valued at about $82,000. Seven Eight Capital LP acquired a new stake in shares of Weibo during the 2nd quarter worth approximately $110,000. Creative Planning bought a new position in Weibo in the third quarter valued at approximately $112,000. Bayesian Capital Management LP acquired a new position in Weibo during the first quarter valued at approximately $123,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Weibo by 17.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.