Brokerages Set Weibo Corp (NASDAQ:WB) Target Price at $58.22

Shares of Weibo Corp (NASDAQ:WB) have been given an average recommendation of “Hold” by the eighteen research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $58.22.

A number of research firms have recently weighed in on WB. JPMorgan Chase & Co. began coverage on TransMedics Group in a report on Tuesday, May 28th. They set an “overweight” rating and a $34.00 price target for the company. BidaskClub upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. TheStreet cut Weibo from a “b-” rating to a “c+” rating in a report on Friday, May 31st. ValuEngine cut Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Finally, HSBC reiterated a “hold” rating on shares of MARKS & SPENCER/S in a report on Friday, May 24th.

Shares of WB traded up $0.11 during midday trading on Friday, reaching $42.34. The company had a trading volume of 69,613 shares, compared to its average volume of 1,780,368. Weibo has a 1-year low of $40.31 and a 1-year high of $91.54. The company has a market capitalization of $9.49 billion, a PE ratio of 16.87, a PEG ratio of 0.78 and a beta of 2.22. The business has a 50 day simple moving average of $42.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.44 and a current ratio of 3.44.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, May 23rd. The information services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Weibo had a return on equity of 37.16% and a net margin of 35.25%. The business had revenue of $399.18 million during the quarter, compared to the consensus estimate of $399.65 million. During the same period last year, the company earned $0.50 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that Weibo will post 2.57 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC boosted its holdings in Weibo by 8.2% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 3,011 shares of the information services provider’s stock valued at $176,000 after acquiring an additional 229 shares during the period. FTB Advisors Inc. boosted its stake in shares of Weibo by 2,010.0% in the 1st quarter. FTB Advisors Inc. now owns 422 shares of the information services provider’s stock valued at $25,000 after buying an additional 402 shares during the period. B. Riley Wealth Management Inc. boosted its stake in shares of Weibo by 13.8% in the 4th quarter. B. Riley Wealth Management Inc. now owns 3,452 shares of the information services provider’s stock valued at $202,000 after buying an additional 419 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Weibo by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 167,656 shares of the information services provider’s stock valued at $10,393,000 after buying an additional 500 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Weibo by 1,328.6% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 600 shares of the information services provider’s stock valued at $35,000 after buying an additional 558 shares during the period. Institutional investors own 25.87% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in 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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