Weibo Corp (WB) Receives $76.57 Consensus Price Target from Analysts
Weibo Corp (NASDAQ:WB) has received an average rating of “Hold” from the eighteen research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $76.57.
A number of research analysts have recently commented on WB shares. BidaskClub cut shares of Weibo from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. ValuEngine cut shares of Weibo from a “sell” rating to a “strong sell” rating in a research report on Monday. Zacks Investment Research cut shares of Weibo from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 11th. Credit Suisse Group started coverage on shares of Weibo in a research report on Monday, February 4th. They set an “outperform” rating and a $72.00 target price on the stock. Finally, China Renaissance Securities reissued a “hold” rating on shares of Weibo in a research report on Wednesday, March 6th.
Institutional investors and hedge funds have recently bought and sold shares of the stock. FTB Advisors Inc. increased its stake in Weibo by 2,010.0% during the first quarter. FTB Advisors Inc. now owns 422 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 402 shares during the last quarter. WealthTrust Arizona LLC increased its stake in Weibo by 56.8% during the fourth quarter. WealthTrust Arizona LLC now owns 472 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 171 shares during the last quarter. Cornerstone Advisors Inc. bought a new stake in Weibo during the first quarter valued at $35,000. Bronfman E.L. Rothschild L.P. increased its stake in Weibo by 1,328.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 600 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 558 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Weibo during the fourth quarter valued at $44,000. 25.97% of the stock is currently owned by hedge funds and other institutional investors.
Weibo (NASDAQ:WB) last announced its quarterly earnings results on Tuesday, March 5th. The information services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $481.88 million for the quarter, compared to analysts’ expectations of $481.52 million. Weibo had a net margin of 33.27% and a return on equity of 37.53%. Weibo’s revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Weibo will post 2.93 EPS for the current fiscal year.
Weibo Company Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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