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

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 target price increased by Citigroup from $12.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the information services provider's stock. Citigroup's target price would indicate a potential upside of 25.45% from the stock's previous close.

Separately, Wall Street Zen downgraded shares of Weibo from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Weibo presently has an average rating of "Hold" and a consensus target price of $10.75.

Weibo Stock Performance

Shares of Weibo stock traded down $0.05 during trading on Friday, reaching $11.16. The company's stock had a trading volume of 1,149,317 shares, compared to its average volume of 1,307,559. The company has a quick ratio of 2.72, a current ratio of 3.65 and a debt-to-equity ratio of 0.31. The business's 50-day moving average price is $9.98 and its 200-day moving average price is $9.60. Weibo has a 52 week low of $7.03 and a 52 week high of $12.40. The firm has a market cap of $2.71 billion, a PE ratio of 7.80 and a beta of 0.10.

Weibo (NASDAQ:WB - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The information services provider reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.27. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $438.84 million. Weibo had a net margin of 21.10% and a return on equity of 12.65%. Weibo's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. Equities analysts forecast that Weibo will post 1.62 earnings per share for the current year.

Institutional Trading of Weibo

A number of institutional investors and hedge funds have recently made changes to their positions in WB. Shell Asset Management Co. bought a new position in Weibo in the fourth quarter valued at approximately $54,000. Daiwa Securities Group Inc. acquired a new stake in shares of Weibo in the 2nd quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Weibo by 22.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock valued at $110,000 after purchasing an additional 2,135 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Weibo during the 1st quarter worth $117,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Weibo during the 4th quarter worth $133,000. Institutional investors own 68.77% of the company's stock.

About Weibo

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.