Weibo Co. (NASDAQ:WB) Receives Consensus Rating of “Hold” from Brokerages

Weibo Co. (NASDAQ:WB) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $10.28.

WB has been the topic of several recent research reports. Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Citigroup upped their target price on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th.

Weibo Trading Down 2.6 %

Shares of NASDAQ:WB opened at $8.88 on Friday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 6.08 and a beta of 0.26. Weibo has a 12 month low of $7.03 and a 12 month high of $12.40. The company’s fifty day simple moving average is $9.42 and its 200 day simple moving average is $8.73. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Weibo by 17.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after acquiring an additional 1,970 shares during the period. Franklin Resources Inc. increased its stake in shares of Weibo by 16.5% during the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock worth $266,000 after purchasing an additional 3,884 shares during the period. State Street Corp lifted its holdings in Weibo by 0.7% during the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after purchasing an additional 6,369 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Weibo by 22.8% in the 3rd quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 7,508 shares during the period. Finally, Creative Planning acquired a new position in Weibo in the 3rd quarter valued at $112,000. 68.77% of the stock is owned by institutional investors and hedge funds.

About Weibo

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.