Weibo (NASDAQ:WB) Price Target Raised to $14.00

Key Points

• Weibo's price target has been raised by Citigroup from $12.00 to $14.00, indicating a potential upside of 21.21% from its current price.
• Despite the positive outlook from Citigroup, Wall Street Zen has downgraded Weibo from a "buy" to a "hold" rating, reflecting mixed sentiments from analysts.
• Weibo's recent quarterly earnings report exceeded analysts' expectations with an EPS of $0.54, showing a yearly revenue increase of 1.6% to $444.8 million.

Weibo (NASDAQ:WB - Get Free Report) had its price objective upped by equities researchers at Citigroup from $12.00 to $14.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. Citigroup's price target suggests a potential upside of 21.21% from the stock's current price.

Separately, Wall Street Zen lowered Weibo from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.75.

Weibo Stock Up 1.0%

NASDAQ:WB traded up $0.11 on Friday, hitting $11.55. The stock had a trading volume of 2,779,466 shares, compared to its average volume of 1,378,224. The business's fifty day moving average is $9.84 and its 200 day moving average is $9.56. The company has a market cap of $2.80 billion, a PE ratio of 8.37 and a beta of 0.10. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.53. Weibo has a 52 week low of $7.03 and a 52 week high of $12.40.

Weibo (NASDAQ:WB - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The information services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.27. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $438.84 million. Weibo had a net margin of 20.41% and a return on equity of 12.29%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. On average, equities research analysts expect that Weibo will post 1.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WB. BNP Paribas Financial Markets raised its position in shares of Weibo by 51.8% during the 4th quarter. BNP Paribas Financial Markets now owns 126,192 shares of the information services provider's stock valued at $1,205,000 after buying an additional 43,086 shares during the period. Northern Trust Corp lifted its stake in Weibo by 61.7% during the fourth quarter. Northern Trust Corp now owns 178,201 shares of the information services provider's stock worth $1,702,000 after purchasing an additional 68,023 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Weibo during the fourth quarter worth $1,359,000. Jump Financial LLC acquired a new position in Weibo during the fourth quarter worth $1,941,000. Finally, Invesco Ltd. lifted its stake in Weibo by 34.0% during the fourth quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider's stock worth $16,418,000 after purchasing an additional 436,215 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Weibo Company Profile

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.

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