Weibo Corporation (WB) Announces Earnings Results
Weibo Corporation (NASDAQ:WB) issued its quarterly earnings results on Tuesday. The information services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06, RTT News reports. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The business had revenue of $320.00 million for the quarter, compared to analyst estimates of $297.20 million. During the same quarter in the prior year, the business posted $0.24 EPS. Weibo Corporation’s revenue for the quarter was up 80.9% compared to the same quarter last year.
Shares of Weibo Corporation (WB) opened at $99.21 on Tuesday. The firm has a market cap of $21,690.00, a price-to-earnings ratio of 110.82 and a beta of 2.47. Weibo Corporation has a 52 week low of $40.12 and a 52 week high of $108.30.
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WB has been the topic of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $82.00 price target on shares of Weibo Corporation in a research note on Thursday, July 27th. BidaskClub lowered shares of Weibo Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Zacks Investment Research lowered shares of Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Citigroup Inc. reiterated a “buy” rating and issued a $126.00 price objective (up previously from $102.00) on shares of Weibo Corporation in a research note on Thursday, September 14th. Finally, Instinet reiterated a “buy” rating and issued a $102.00 price objective (up previously from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $85.28.
Weibo Corporation Company Profile
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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