Wall Street brokerages forecast that Weibo Co. (NASDAQ:WB - Get Rating) will report sales of $479.40 million for the current quarter, according to Zacks. Two analysts have provided estimates for Weibo's earnings, with estimates ranging from $472.59 million to $486.21 million. Weibo reported sales of $458.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Weibo will report full-year sales of $2.33 billion for the current year, with estimates ranging from $2.26 billion to $2.43 billion. For the next financial year, analysts anticipate that the company will post sales of $2.60 billion, with estimates ranging from $2.53 billion to $2.67 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Weibo.
Weibo (NASDAQ:WB - Get Rating) last announced its quarterly earnings data on Thursday, March 3rd. The information services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.25). Weibo had a net margin of 18.98% and a return on equity of 13.38%. The business had revenue of $616.30 million during the quarter, compared to analyst estimates of $607.41 million. During the same quarter last year, the firm posted $0.13 EPS. The company's revenue for the quarter was up 20.0% on a year-over-year basis.
WB has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Weibo from $32.00 to $24.00 in a research report on Monday, March 14th. 86 Research upgraded shares of Weibo from a "hold" rating to a "buy" rating and set a $35.00 price target for the company in a research report on Friday, March 4th. StockNews.com upgraded shares of Weibo from a "hold" rating to a "buy" rating in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of Weibo in a research report on Sunday, April 10th. They issued a "hold" rating and a $37.50 price target for the company. Finally, UBS Group downgraded shares of Weibo from a "buy" rating to a "neutral" rating and reduced their price target for the company from $64.00 to $27.80 in a research report on Friday, March 11th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $44.37.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Weibo during the 4th quarter worth $143,502,000. Bank of Montreal Can grew its stake in shares of Weibo by 10,637.1% during the 1st quarter. Bank of Montreal Can now owns 2,207,442 shares of the information services provider's stock worth $54,657,000 after purchasing an additional 2,186,883 shares during the period. Bank of America Corp DE grew its stake in shares of Weibo by 25.5% during the 4th quarter. Bank of America Corp DE now owns 9,979,976 shares of the information services provider's stock worth $309,179,000 after purchasing an additional 2,029,507 shares during the period. Marshall Wace LLP grew its stake in shares of Weibo by 3,170.3% during the 4th quarter. Marshall Wace LLP now owns 1,026,453 shares of the information services provider's stock worth $31,800,000 after purchasing an additional 995,066 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Weibo by 669.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,117,061 shares of the information services provider's stock worth $34,607,000 after purchasing an additional 971,853 shares during the period. 71.37% of the stock is currently owned by institutional investors.
Shares of NASDAQ:WB opened at $20.34 on Friday. The company has a market capitalization of $4.81 billion, a PE ratio of 10.99, a P/E/G ratio of 0.68 and a beta of 0.89. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42. Weibo has a twelve month low of $18.62 and a twelve month high of $64.70. The firm has a 50 day simple moving average of $23.65 and a 200-day simple moving average of $31.13.
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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