Zacks Investment Research upgraded shares of Weibo Corporation (NASDAQ:WB) from a hold rating to a strong-buy rating in a report published on Tuesday morning. They currently have $95.00 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 brokerages have also recently commented on WB. Jefferies Group LLC decreased their target price on Weibo Corporation from $105.00 to $82.00 and set a buy rating for the company in a research report on Thursday, August 10th. Instinet reaffirmed a buy rating and issued a $102.00 target price (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Barclays PLC set a $100.00 price objective on Weibo Corporation and gave the stock an overweight rating in a report on Friday, August 11th. BidaskClub upgraded Weibo Corporation from a buy rating to a strong-buy rating in a report on Sunday, July 16th. Finally, T.H. Capital reiterated a buy rating and set a $70.00 price objective (up from $60.00) on shares of Weibo Corporation in a report on Tuesday, May 9th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $79.06.
Weibo Corporation (WB) opened at 89.68 on Tuesday. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $89.95.
Weibo Corporation (NASDAQ:WB) last issued its earnings results on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business had revenue of $253.37 million during the quarter, compared to analysts’ expectations of $246.78 million. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. Weibo Corporation’s revenue was up 72.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. Equities research analysts predict that Weibo Corporation will post $1.63 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. purchased a new stake in shares of Weibo Corporation during the fourth quarter valued at about $2,453,000. Teachers Advisors LLC raised its stake in shares of Weibo Corporation by 162.6% in the fourth quarter. Teachers Advisors LLC now owns 12,700 shares of the information services provider’s stock valued at $516,000 after buying an additional 7,864 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in shares of Weibo Corporation during the first quarter valued at about $1,967,000. Navellier & Associates Inc raised its stake in shares of Weibo Corporation by 41.9% in the first quarter. Navellier & Associates Inc now owns 93,269 shares of the information services provider’s stock valued at $4,867,000 after buying an additional 27,526 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Weibo Corporation by 224.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 209,000 shares of the information services provider’s stock valued at $10,906,000 after buying an additional 144,500 shares in the last quarter. Institutional investors and hedge funds own 16.58% of the company’s stock.
About Weibo Corporation
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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