Zacks Investment Research lowered shares of Weibo Corporation (NASDAQ:WB) from a strong-buy rating to a hold rating in a report published on Wednesday, July 19th.
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. “
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Weibo Corporation from a strong-buy rating to a buy rating in a research note on Friday, June 30th. Jefferies Group LLC reissued a buy rating and issued a $82.00 price objective on shares of Weibo Corporation in a report on Tuesday, May 16th. Benchmark Co. initiated coverage on shares of Weibo Corporation in a report on Tuesday, April 18th. They issued a buy rating and a $65.00 price objective on the stock. Vetr downgraded shares of Weibo Corporation from a strong-buy rating to a buy rating and set a $65.50 price objective on the stock. in a report on Monday, May 8th. Finally, T.H. Capital reissued a buy rating and issued a $70.00 price objective (up previously from $60.00) on shares of Weibo Corporation in a report on Tuesday, May 9th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $78.61.
Weibo Corporation (NASDAQ:WB) traded up 0.63% on Wednesday, reaching $82.72. 4,275,140 shares of the company traded hands. Weibo Corporation has a one year low of $40.12 and a one year high of $88.88.
Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Weibo Corporation had a net margin of 23.22% and a return on equity of 25.65%. The firm had revenue of $253.37 million during the quarter, compared to analyst estimates of $246.78 million. During the same period in the previous year, the business posted $0.16 earnings per share. The business’s revenue for the quarter was up 72.5% on a year-over-year basis. On average, equities analysts forecast that Weibo Corporation will post $1.57 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP purchased a new position in shares of Weibo Corporation during the second quarter valued at $2,963,000. Virtu KCG Holdings LLC purchased a new position in shares of Weibo Corporation during the second quarter valued at $286,000. Parametric Portfolio Associates LLC increased its position in shares of Weibo Corporation by 69.9% in the second quarter. Parametric Portfolio Associates LLC now owns 36,210 shares of the information services provider’s stock valued at $2,407,000 after buying an additional 14,892 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Weibo Corporation by 62.7% in the second quarter. Nordea Investment Management AB now owns 41,469 shares of the information services provider’s stock valued at $2,756,000 after buying an additional 15,975 shares in the last quarter. Finally, Harding Loevner LP increased its position in shares of Weibo Corporation by 23.7% in the second quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock valued at $233,037,000 after buying an additional 672,381 shares in the last quarter. 16.79% of the stock is currently owned by institutional investors and hedge funds.
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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