Weibo (NASDAQ:WB) Price Target Raised to $12.00 at Citigroup

Weibo (NASDAQ:WB) had its price target boosted by investment analysts at Citigroup from $11.00 to $12.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Citigroup’s target price would suggest a potential upside of 11.11% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Nomura Securities upgraded Weibo to a “hold” rating in a report on Monday, August 26th. Morgan Stanley reduced their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.23.

Weibo Stock Performance

Shares of WB stock opened at $10.80 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. Weibo has a fifty-two week low of $7.03 and a fifty-two week high of $13.54. The company has a market capitalization of $2.53 billion, a P/E ratio of 9.08, a PEG ratio of 1.67 and a beta of 0.22. The stock has a 50 day moving average price of $7.79 and a two-hundred day moving average price of $8.36.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company had revenue of $437.90 million during the quarter, compared to analyst estimates of $437.97 million. During the same period in the prior year, the business posted $0.42 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts expect that Weibo will post 1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Krane Funds Advisors LLC lifted its position in Weibo by 17.4% during the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock valued at $29,213,000 after acquiring an additional 564,068 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Weibo by 199.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock valued at $33,675,000 after purchasing an additional 2,047,135 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Weibo by 204.5% during the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after purchasing an additional 1,634,230 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Weibo by 64.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after purchasing an additional 511,248 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Weibo during the 1st quarter valued at approximately $7,435,000. Hedge funds and other institutional investors 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.