Weibo Co. (NASDAQ:WB) Receives Average Rating of “Hold” from Analysts

Shares of Weibo Co. (NASDAQ:WB) have received an average rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $10.23.

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered 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. Benchmark reissued a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Nomura Securities upgraded shares of Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, Citigroup increased their target price on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th.

Weibo Stock Up 4.3 %

Weibo stock opened at $10.46 on Wednesday. The company’s 50-day moving average price is $9.35 and its two-hundred day moving average price is $8.56. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.45 billion, a P/E ratio of 7.16 and a beta of 0.27. Weibo has a twelve month low of $7.03 and a twelve month high of $12.40.

Institutional Trading of Weibo

Several large investors have recently made changes to their positions in WB. Seven Eight Capital LP bought a new stake in shares of Weibo during the 2nd quarter worth $110,000. Creative Planning acquired a new position in Weibo during the third quarter worth about $112,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after acquiring an additional 1,970 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Weibo in the 3rd quarter valued at approximately $194,000. Finally, Franklin Resources Inc. grew its holdings in shares of Weibo by 16.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 3,884 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.