Weibo (WB) Downgraded by Zacks Investment Research

Weibo (NASDAQ:WB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, November 29th.

According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “

Several other equities research analysts also recently commented on WB. Instinet reissued a “buy” rating and issued a $102.00 price objective (up previously from $91.00) on shares of Weibo in a report on Friday, August 11th. Jefferies Group dropped their price target on Weibo from $105.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Barclays set a $100.00 price target on Weibo and gave the company an “overweight” rating in a research note on Friday, August 11th. BidaskClub upgraded Weibo from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Citigroup reiterated a “buy” rating and set a $126.00 price objective (up previously from $102.00) on shares of Weibo in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $97.31.

Weibo (NASDAQ:WB) opened at $102.72 on Wednesday. Weibo has a 12-month low of $40.12 and a 12-month high of $123.00. The firm has a market capitalization of $22,723.41, a P/E ratio of 87.05 and a beta of 2.54.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $320.00 million during the quarter, compared to the consensus estimate of $297.20 million. Weibo had a return on equity of 30.00% and a net margin of 26.85%. The business’s revenue was up 80.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. equities research analysts predict that Weibo will post 1.5 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Weibo by 2.6% in the first quarter. Vanguard Group Inc. now owns 165,119 shares of the information services provider’s stock valued at $8,616,000 after buying an additional 4,195 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Weibo by 20.3% during the first quarter. Geode Capital Management LLC now owns 70,163 shares of the information services provider’s stock valued at $3,650,000 after purchasing an additional 11,825 shares in the last quarter. State Street Corp boosted its stake in shares of Weibo by 14.2% during the first quarter. State Street Corp now owns 513,031 shares of the information services provider’s stock valued at $26,771,000 after purchasing an additional 63,983 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Weibo by 48.8% during the second quarter. Aperio Group LLC now owns 33,610 shares of the information services provider’s stock valued at $2,234,000 after purchasing an additional 11,019 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Weibo by 47.5% during the second quarter. APG Asset Management N.V. now owns 14,160 shares of the information services provider’s stock valued at $941,000 after purchasing an additional 4,560 shares in the last quarter. 21.98% of the stock is currently owned by institutional investors.

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Weibo 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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