FY2019 EPS Estimates for Weibo Corp (WB) Reduced by Analyst

Weibo Corp (NASDAQ:WB) – Analysts at Jefferies Financial Group lowered their FY2019 earnings estimates for shares of Weibo in a note issued to investors on Monday, November 5th. Jefferies Financial Group analyst K. Chan now anticipates that the information services provider will post earnings per share of $3.16 for the year, down from their previous forecast of $3.68. Jefferies Financial Group currently has a “Buy” rating and a $90.00 target price on the stock. Jefferies Financial Group also issued estimates for Weibo’s FY2020 earnings at $4.14 EPS.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The business had revenue of $426.60 million during the quarter, compared to the consensus estimate of $426.54 million. Weibo had a net margin of 32.03% and a return on equity of 37.75%. Weibo’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS.

Several other research firms have also recently commented on WB. Zacks Investment Research cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Barclays reiterated a “buy” rating and set a $130.00 target price (down from $150.00) on shares of Weibo in a research note on Sunday, July 29th. ValuEngine cut shares of Weibo from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. OTR Global began coverage on shares of Weibo in a research note on Monday, August 6th. They set a “positive” rating for the company. Finally, BidaskClub cut shares of Weibo from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $112.00.

NASDAQ:WB opened at $57.16 on Thursday. The firm has a market cap of $14.40 billion, a P/E ratio of 31.14, a P/E/G ratio of 0.93 and a beta of 2.41. Weibo has a one year low of $53.11 and a one year high of $142.12. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.61.

A number of large investors have recently modified their holdings of WB. Korea Investment CORP boosted its stake in shares of Weibo by 236.8% in the 2nd quarter. Korea Investment CORP now owns 22,900 shares of the information services provider’s stock valued at $2,033,000 after purchasing an additional 16,100 shares during the last quarter. Vident Investment Advisory LLC bought a new position in shares of Weibo in the 2nd quarter valued at about $1,078,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Weibo by 52.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,503 shares of the information services provider’s stock valued at $3,596,000 after purchasing an additional 13,954 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Weibo by 898.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 248,690 shares of the information services provider’s stock valued at $22,074,000 after purchasing an additional 223,790 shares during the last quarter. Finally, BB&T Corp boosted its stake in shares of Weibo by 6.7% in the 2nd quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock valued at $947,000 after purchasing an additional 667 shares during the last quarter. 24.14% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Company Profile

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

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