Weibo (NASDAQ:WB) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Weibo's stock rating has been downgraded from "buy" to "hold" by Wall Street Zen, amidst a more cautious sentiment surrounding the company's performance.
• Analysts have a consensus price target of $14.00 for Weibo, with Citigroup recently raising its price objective from $12.00 to $14.00 while maintaining a "buy" rating.
• Weibo reported earnings of $0.54 per share for the last quarter, exceeding analyst expectations and showing a 1.6% increase in year-over-year revenue.

Weibo (NASDAQ:WB - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued reports about the company. Weiss Ratings restated a "hold (c)" rating on shares of Weibo in a research note on Friday. Citigroup lifted their price objective on Weibo from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $14.00.

Weibo Trading Down 0.5%

Shares of WB stock opened at $11.32 on Friday. The business's 50 day moving average is $11.87 and its two-hundred day moving average is $10.12. Weibo has a twelve month low of $7.10 and a twelve month high of $12.96. The company has a market capitalization of $2.77 billion, a P/E ratio of 7.92 and a beta of 0.09. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.31.

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

Institutional Trading of Weibo

Several hedge funds and other institutional investors have recently modified their holdings of WB. Krane Funds Advisors LLC boosted its position in shares of Weibo by 25.1% in the first quarter. Krane Funds Advisors LLC now owns 4,332,687 shares of the information services provider's stock worth $41,031,000 after buying an additional 868,643 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Weibo by 497.1% in the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider's stock worth $6,865,000 after buying an additional 599,700 shares during the period. National Bank of Canada FI boosted its position in shares of Weibo by 28,999,900.0% in the first quarter. National Bank of Canada FI now owns 290,000 shares of the information services provider's stock worth $2,746,000 after buying an additional 289,999 shares during the period. Marshall Wace LLP purchased a new stake in shares of Weibo during the second quarter worth $2,502,000. Finally, Prudential Financial Inc. raised its holdings in shares of Weibo by 72.3% during the second quarter. Prudential Financial Inc. now owns 484,800 shares of the information services provider's stock worth $4,620,000 after acquiring an additional 203,500 shares in the last quarter. Institutional investors and hedge funds own 68.77% of the company's stock.

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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