Brokerages Set Weibo Corp (WB) PT at $108.83

Weibo Corp (NASDAQ:WB) has been assigned an average rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $108.83.

WB has been the topic of several research reports. Jefferies Financial Group reduced their price target on shares of Weibo from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, August 9th. Barclays reaffirmed a “buy” rating and issued a $130.00 target price (down previously from $150.00) on shares of Weibo in a report on Sunday, July 29th. Benchmark reduced their target price on shares of Weibo from $148.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, November 5th. TH Capital reduced their target price on shares of Weibo and set a “buy” rating on the stock in a report on Wednesday, November 14th. Finally, JPMorgan Chase & Co. began coverage on shares of Weibo in a report on Wednesday, August 29th. They issued an “overweight” rating and a $118.00 target price on the stock.

Shares of WB opened at $56.93 on Thursday. The stock has a market cap of $12.59 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 0.81 and a beta of 2.41. Weibo has a 1 year low of $53.11 and a 1 year high of $142.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.97 and a current ratio of 3.97.

A number of large investors have recently modified their holdings of WB. Principal Financial Group Inc. increased its stake in Weibo by 3.8% in the first quarter. Principal Financial Group Inc. now owns 277,659 shares of the information services provider’s stock valued at $33,192,000 after purchasing an additional 10,244 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Weibo by 199.6% in the first quarter. Allianz Asset Management GmbH now owns 12,058 shares of the information services provider’s stock valued at $1,441,000 after purchasing an additional 8,033 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Weibo by 8.8% in the second quarter. Xact Kapitalforvaltning AB now owns 8,643 shares of the information services provider’s stock valued at $767,000 after purchasing an additional 700 shares during the last quarter. Bank of Montreal Can increased its stake in Weibo by 5.2% in the second quarter. Bank of Montreal Can now owns 96,693 shares of the information services provider’s stock valued at $8,583,000 after purchasing an additional 4,817 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Weibo by 62,387.5% in the second quarter. Bessemer Group Inc. now owns 4,999 shares of the information services provider’s stock valued at $444,000 after purchasing an additional 4,991 shares during the last quarter. 23.52% 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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Analyst Recommendations for Weibo (NASDAQ:WB)

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