Weibo (NASDAQ:WB) Rating Increased to Buy at StockNews.com

Weibo (NASDAQ:WB) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other brokerages also recently commented on WB. Morgan Stanley lowered their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Nomura Securities upgraded shares of Weibo to a “hold” rating in a report on Monday, August 26th. Finally, Citigroup increased their target price on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.23.

Weibo Stock Performance

WB opened at $10.20 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average price is $8.28 and its two-hundred day moving average price is $8.45. Weibo has a 1-year low of $7.03 and a 1-year high of $13.54. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.96 and a beta of 0.23.

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

Hedge Funds Weigh In On Weibo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WB. Deltec Asset Management LLC bought a new position in shares of Weibo in the second quarter valued at approximately $82,000. Seven Eight Capital LP bought a new position in shares of Weibo in the second quarter valued at approximately $110,000. Bayesian Capital Management LP bought a new position in shares of Weibo in the first quarter valued at approximately $123,000. XY Capital Ltd bought a new position in shares of Weibo in the first quarter valued at approximately $140,000. Finally, Diversified Trust Co bought a new position in shares of Weibo in the third quarter valued at approximately $194,000. 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.