Weibo’s (WB) Buy Rating Reaffirmed at Zacks Investment Research

Zacks Investment Research reaffirmed their buy rating on shares of Weibo (NASDAQ:WB) in a research note released on Saturday, Zacks.com reports. They currently have a $54.00 price target on the information services provider’s stock.

According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “

Several other research firms have also recently issued reports on WB. Jefferies Financial Group upgraded shares of Weibo from a hold rating to a buy rating and set a $59.00 target price on the stock in a research note on Friday, October 18th. Nomura set a $48.00 target price on shares of Weibo and gave the company a hold rating in a research note on Wednesday, August 21st. ValuEngine upgraded shares of Weibo from a sell rating to a hold rating in a research note on Wednesday, October 2nd. BidaskClub upgraded shares of Weibo from a hold rating to a buy rating in a research note on Wednesday, October 16th. Finally, Credit Suisse Group upgraded shares of Weibo from a neutral rating to an outperform rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $55.73.

Shares of Weibo stock opened at $48.68 on Friday. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 19.32 and a beta of 2.21. The firm’s 50-day moving average is $47.48 and its 200 day moving average is $48.55. Weibo has a 1 year low of $34.26 and a 1 year high of $74.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.58 and a quick ratio of 3.58.

Weibo (NASDAQ:WB) last posted its earnings results on Monday, August 19th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The business had revenue of $431.80 million for the quarter, compared to analysts’ expectations of $434.79 million. Weibo had a net margin of 33.01% and a return on equity of 32.08%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. On average, equities analysts expect that Weibo will post 2.4 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WB. Invesco Ltd. increased its position in shares of Weibo by 29.7% during the 2nd quarter. Invesco Ltd. now owns 4,591,978 shares of the information services provider’s stock valued at $199,981,000 after purchasing an additional 1,052,658 shares during the last quarter. TB Alternative Assets Ltd. increased its position in shares of Weibo by 116.5% during the 3rd quarter. TB Alternative Assets Ltd. now owns 1,016,916 shares of the information services provider’s stock valued at $45,507,000 after purchasing an additional 547,200 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Weibo during the 2nd quarter valued at about $15,466,000. Platinum Investment Management Ltd. increased its position in shares of Weibo by 11.9% during the 2nd quarter. Platinum Investment Management Ltd. now owns 3,096,729 shares of the information services provider’s stock valued at $134,863,000 after purchasing an additional 328,248 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Weibo by 1,053.5% during the 2nd quarter. SG Americas Securities LLC now owns 333,247 shares of the information services provider’s stock valued at $14,513,000 after purchasing an additional 304,356 shares during the last quarter. 25.81% of the stock is owned by hedge funds and other institutional investors.

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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