Weibo Corporation (NASDAQ:WB) Stock Has Average Price Target of $8.80 According to Brokerages

Key Points

• Analysts have a bearish view of Weibo: six brokerages give the stock a consensus “Reduce” rating, with three sells, two holds, and one buy. The average 12-month price target is $8.80.
• Weibo shares opened at $6.44, near their 52-week low of $6.27 and below both the 50-day and 200-day moving averages. The stock has a market capitalization of approximately $1.58 billion.
• Despite the weak analyst sentiment, Weibo’s latest quarterly results exceeded expectations, with EPS of $0.38 versus the $0.36 consensus and revenue of $453.83 million versus estimates of $442.45 million. Institutional investors own 68.77% of the company.

Shares of Weibo Corporation (NASDAQ:WB - Get Free Report) have been given a consensus rating of "Reduce" by the six brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.80.

WB has been the subject of several recent analyst reports. Bank of America reaffirmed an "underperform" rating on shares of Weibo in a research report on Friday, August 21st. Zacks Research lowered shares of Weibo from a "hold" rating to a "strong sell" rating in a research note on Thursday, September 24th. Citigroup cut shares of Weibo from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $9.30 to $7.80 in a report on Thursday, August 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Weibo in a research note on Friday, July 24th. Finally, Benchmark reiterated a "hold" rating on shares of Weibo in a report on Thursday, August 20th.

Institutional Trading of Weibo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Weibo by 337.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider's stock worth $34,000 after acquiring an additional 2,990 shares in the last quarter. Nykredit A S bought a new stake in shares of Weibo during the second quarter valued at approximately $93,000. QRG Capital Management Inc. increased its holdings in shares of Weibo by 15.2% during the second quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider's stock valued at $170,000 after acquiring an additional 3,090 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Weibo during the second quarter worth approximately $208,000. Finally, Bank of America Corp DE raised its position in shares of Weibo by 45.9% during the first quarter. Bank of America Corp DE now owns 35,307 shares of the information services provider's stock worth $309,000 after purchasing an additional 11,109 shares during the period. 68.77% of the stock is owned by institutional investors.

Weibo Stock Down 0.6%

Shares of NASDAQ:WB opened at $6.44 on Friday. Weibo has a 1 year low of $6.27 and a 1 year high of $12.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.59 and a quick ratio of 3.59. The business's 50-day moving average is $7.00 and its 200-day moving average is $7.71. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 5.32 and a beta of 0.17.

Weibo (NASDAQ:WB - Get Free Report) last released its earnings results on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Weibo had a return on equity of 8.87% and a net margin of 17.78%.The business had revenue of $453.83 million during the quarter, compared to analysts' expectations of $442.45 million. Equities research analysts predict that Weibo will post 1.02 earnings per share for the current year.

About Weibo

Weibo Corp. NASDAQ: WB operates a Chinese-language social media platform that enables users to create, share and discover content through short posts, videos, images, live streams and other multimedia formats. The platform supports public conversations, following relationships, trending topics and content distribution across entertainment, news, sports, technology and other categories.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and brand campaigns.

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