Weibo (WB) Research Coverage Started at UBS Group
UBS Group initiated coverage on shares of Weibo (NASDAQ:WB) in a research report sent to investors on Tuesday, thefly.com reports. The firm issued a buy rating and a $125.00 price target on the information services provider’s stock.
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Weibo from a hold rating to a sell rating in a research note on Friday, December 1st. BidaskClub upgraded shares of Weibo from a hold rating to a buy rating in a research note on Thursday, November 9th. Benchmark dropped their price target on shares of Weibo from $110.00 to $95.00 and set a buy rating on the stock in a research note on Wednesday, November 8th. Citigroup reiterated a buy rating and set a $126.00 price target (up previously from $102.00) on shares of Weibo in a research note on Thursday, September 14th. Finally, Barclays lifted their price target on shares of Weibo from $100.00 to $120.00 and gave the stock an overweight rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $103.35.
Shares of Weibo (WB) traded up $1.12 during mid-day trading on Tuesday, reaching $116.21. 1,378,100 shares of the company traded hands, compared to its average volume of 2,036,600. Weibo has a 52 week low of $43.50 and a 52 week high of $123.00. The stock has a market capitalization of $25,870.00, a PE ratio of 99.32 and a beta of 2.52.
Weibo (NASDAQ:WB) last issued its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The business had revenue of $320.00 million for the quarter, compared to analysts’ expectations of $297.20 million. Weibo had a net margin of 26.85% and a return on equity of 30.00%. The company’s revenue was up 80.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. equities research analysts expect that Weibo will post 1.5 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Harding Loevner LP increased its holdings in Weibo by 2,621.2% in the 3rd quarter. Harding Loevner LP now owns 95,403,043 shares of the information services provider’s stock valued at $476,760,000 after acquiring an additional 91,897,142 shares during the last quarter. BT Investment Management Ltd bought a new stake in Weibo in the 2nd quarter valued at $63,749,000. Schroder Investment Management Group increased its holdings in Weibo by 31.1% in the 3rd quarter. Schroder Investment Management Group now owns 2,300,656 shares of the information services provider’s stock valued at $225,672,000 after acquiring an additional 545,683 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in Weibo in the 2nd quarter valued at $27,010,000. Finally, Macquarie Group Ltd. increased its holdings in Weibo by 36.9% in the 2nd quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock valued at $82,378,000 after acquiring an additional 334,095 shares during the last quarter. Hedge funds and other institutional investors own 21.95% of the company’s stock.
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Weibo 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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