The Goldman Sachs Group Reiterates Neutral Rating for Weibo (NASDAQ:WB)

Weibo (NASDAQ:WB)‘s stock had its “neutral” rating reaffirmed by stock analysts at The Goldman Sachs Group in a research note issued to investors on Thursday, MarketBeat.com reports. They presently have a $10.60 price objective on the information services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 11.58% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. HSBC reduced their price objective on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research note on Friday, March 15th. Bank of America downgraded Weibo from a “buy” rating to an “underperform” rating and lowered their price target for the company from $19.50 to $10.00 in a report on Thursday, January 11th. Finally, UBS Group raised shares of Weibo from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $12.90 to $11.50 in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Weibo currently has a consensus rating of “Hold” and a consensus price target of $11.98.

Weibo Stock Up 4.1 %

Shares of Weibo stock opened at $9.50 on Thursday. Weibo has a 1-year low of $7.84 and a 1-year high of $21.58. The business has a 50-day moving average of $8.96 and a 200-day moving average of $10.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.51 and a quick ratio of 2.38. The company has a market capitalization of $2.22 billion, a PE ratio of 6.69, a P/E/G ratio of 1.38 and a beta of 0.43.

Hedge Funds Weigh In On Weibo

Several large investors have recently made changes to their positions in WB. Advisor Group Holdings Inc. increased its holdings in Weibo by 88.9% in the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 651 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Weibo in the 2nd quarter valued at $50,000. US Bancorp DE raised its stake in Weibo by 124.7% during the 1st quarter. US Bancorp DE now owns 5,512 shares of the information services provider’s stock worth $135,000 after buying an additional 3,059 shares during the period. Osaic Holdings Inc. grew its stake in Weibo by 16.8% in the second quarter. Osaic Holdings Inc. now owns 7,113 shares of the information services provider’s stock valued at $87,000 after acquiring an additional 1,022 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Weibo by 20.6% during the 1st quarter. Ensign Peak Advisors Inc now owns 8,200 shares of the information services provider’s stock worth $164,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 68.77% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.