Weibo Corporation (WB) Shares Up 5.9%
Weibo Corporation (NASDAQ:WB) shares shot up 5.9% on Thursday . The company traded as high as $118.10 and last traded at $117.72. 2,208,143 shares changed hands during trading, an increase of 9% from the average session volume of 2,033,275 shares. The stock had previously closed at $111.17.
A number of research firms recently issued reports on WB. Jefferies Group LLC lowered their target price on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. BidaskClub upgraded shares of Weibo Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Instinet reiterated a “buy” rating and issued a $102.00 target price (up from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, August 15th. Finally, Benchmark Co. lowered their target price on shares of Weibo Corporation from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Ten research analysts have rated the stock with a buy rating, Weibo Corporation currently has a consensus rating of “Buy” and a consensus price target of $93.39.
The stock has a market cap of $25,740.00, a PE ratio of 95.09 and a beta of 2.47.
Weibo Corporation (NASDAQ:WB) last posted its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $320.00 million for the quarter, compared to analyst estimates of $297.20 million. Weibo Corporation had a net margin of 26.85% and a return on equity of 30.00%. The business’s quarterly revenue was up 80.9% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. research analysts predict that Weibo Corporation will post 1.49 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Weibo Corporation by 40.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock valued at $708,000 after purchasing an additional 3,045 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new position in Weibo Corporation during the 2nd quarter valued at about $757,000. First Manhattan Co. bought a new position in Weibo Corporation during the 2nd quarter valued at about $741,000. Nicholas Investment Partners LP bought a new position in Weibo Corporation during the 2nd quarter valued at about $3,222,000. Finally, BT Investment Management Ltd bought a new position in shares of Weibo Corporation in the second quarter worth about $63,749,000. Institutional investors and hedge funds own 19.54% of the company’s stock.
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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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