Weibo's (WB) "Neutral" Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of Weibo (NASDAQ:WB - Free Report) in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have a $10.60 price target on the information services provider's stock.

A number of other research firms have also recently commented on WB. StockNews.com cut Weibo from a buy rating to a hold rating in a report on Friday, January 19th. HSBC lowered their target price on Weibo from $13.60 to $9.80 and set a hold rating for the company in a research note on Friday, March 15th. UBS Group raised shares of Weibo from a neutral rating to a buy rating and decreased their price target for the company from $12.90 to $11.50 in a report on Tuesday, March 19th. Finally, Bank of America downgraded shares of Weibo from a buy rating to an underperform rating and dropped their price objective for the company from $19.50 to $10.00 in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $11.98.

Weibo Price Performance

NASDAQ:WB traded down $0.41 during trading hours on Thursday, reaching $9.09. 2,631,381 shares of the company were exchanged, compared to its average volume of 2,299,681. The company has a market capitalization of $2.13 billion, a P/E ratio of 6.40, a P/E/G ratio of 1.38 and a beta of 0.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.51 and a quick ratio of 2.38. The business has a 50 day moving average of $8.97 and a 200 day moving average of $10.43. Weibo has a 1-year low of $7.84 and a 1-year high of $21.58.

Weibo Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Monday, May 13th. Investors of record on Friday, April 12th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, April 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WB. ARGA Investment Management LP raised its holdings in Weibo by 14.5% during the 4th quarter. ARGA Investment Management LP now owns 6,825,571 shares of the information services provider's stock valued at $74,740,000 after acquiring an additional 864,120 shares during the period. Federated Hermes Inc. grew its holdings in Weibo by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 5,290,626 shares of the information services provider's stock valued at $57,932,000 after buying an additional 179,482 shares in the last quarter. UBS Group AG lifted its holdings in shares of Weibo by 149.2% in the first quarter. UBS Group AG now owns 5,059,287 shares of the information services provider's stock worth $124,002,000 after buying an additional 3,029,114 shares in the last quarter. BlackRock Inc. grew its position in shares of Weibo by 10.1% during the 1st quarter. BlackRock Inc. now owns 3,716,600 shares of the information services provider's stock valued at $74,555,000 after purchasing an additional 340,154 shares in the last quarter. Finally, Krane Funds Advisors LLC increased its holdings in shares of Weibo by 14.4% in the third quarter. Krane Funds Advisors LLC now owns 3,188,994 shares of the information services provider's stock worth $39,990,000 after purchasing an additional 401,004 shares during the period. 68.77% of the stock is owned by institutional investors.

Weibo Company Profile

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.