Weibo Corp (NASDAQ:WB) gapped down before the market opened on Friday . The stock had previously closed at $63.49, but opened at $61.57. Weibo shares last traded at $57.16, with a volume of 2858907 shares.
Several research firms have weighed in on WB. Zacks Investment Research cut Weibo from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price target on shares of Weibo in a research note on Tuesday, July 24th. Barclays reiterated a “buy” rating and issued a $130.00 price target (down from $150.00) on shares of Weibo in a research note on Sunday, July 29th. ValuEngine cut Weibo from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, OTR Global assumed coverage on Weibo in a research note on Monday, August 6th. They issued a “positive” rating for the company. Three 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 stock. The stock currently has an average rating of “Hold” and a consensus price target of $112.00.
The company has a market cap of $14.38 billion, a P/E ratio of 36.64 and a beta of 2.41. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.61.
Several institutional investors and hedge funds have recently made changes to their positions in WB. Artisan Partners Limited Partnership acquired a new stake in Weibo in the second quarter valued at $109,350,000. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Weibo by 28.2% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,590,940 shares of the information services provider’s stock valued at $189,475,000 after purchasing an additional 569,900 shares during the period. New Silk Road Investment PTE Ltd. acquired a new stake in Weibo in the third quarter valued at $31,344,000. Point72 Asset Management L.P. increased its holdings in Weibo by 898.8% in the second 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 period. Finally, DNB Asset Management AS acquired a new stake in Weibo in the third quarter valued at $12,556,000. Institutional investors own 24.14% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Weibo (WB) Shares Gap Down to $61.57” was first published by WKRB News and is owned by of WKRB News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.wkrb13.com/2018/11/10/weibo-wb-shares-gap-down-to-61-57.html.
Weibo Company Profile (NASDAQ:WB)
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.
Recommended Story: Growth Stocks
Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.