Brokerages Set Weibo Corporation (NASDAQ:WB) Target Price at $8.80

Weibo Corporation (NASDAQ:WB) has been assigned an average rating of “Reduce” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.80.

WB has been the topic of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Weibo in a report on Friday, July 24th. Bank of America reiterated an “underperform” rating on shares of Weibo in a research note on Friday, August 21st. Citigroup downgraded Weibo from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $9.30 to $7.80 in a research report on Thursday, August 20th. Benchmark reissued a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. Finally, Zacks Research upgraded Weibo from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd.

Weibo Stock Performance

Shares of WB opened at $6.50 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 5.37, a PEG ratio of 4.21 and a beta of 0.18. The company’s 50 day simple moving average is $7.43 and its 200 day simple moving average is $8.05. Weibo has a 1 year low of $6.48 and a 1 year high of $12.96.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $453.83 million for the quarter, compared to analyst estimates of $442.45 million. Weibo had a net margin of 17.78% and a return on equity of 8.87%. On average, sell-side analysts predict that Weibo will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Weibo

Hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. increased its position in Weibo by 21.0% during the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after purchasing an additional 422,294 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Weibo by 41.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,363,373 shares of the information services provider’s stock valued at $17,158,000 after buying an additional 697,778 shares during the period. Sei Investments Co. grew its stake in shares of Weibo by 39.6% during the 1st quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock valued at $5,115,000 after buying an additional 165,936 shares during the period. Alpine Investment Management Ltd purchased a new stake in shares of Weibo during the 4th quarter valued at $3,945,000. Finally, XY Capital Ltd increased its holdings in shares of Weibo by 94.1% during the 4th quarter. XY Capital Ltd now owns 198,356 shares of the information services provider’s stock worth $2,027,000 after buying an additional 96,150 shares during the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

About Weibo

Weibo Corporation (NASDAQ: WB) operates a social media platform in China that enables users to create, share and discover short-form content. Often described as a microblogging service, Weibo supports public posts, multimedia content, hashtags, trending topics, comments, direct messaging and interactions among users, public figures, media organizations and businesses.

The company generates revenue primarily through advertising and marketing services, including promoted content, display advertising and advertising products designed to help brands reach targeted audiences.