Weibo (NASDAQ:WB) Downgraded to “Neutral” at Credit Suisse Group

Credit Suisse Group downgraded shares of Weibo (NASDAQ:WB) from an outperform rating to a neutral rating in a report released on Thursday, Briefing.com Automated Import reports.

A number of other research analysts also recently weighed in on the company. ValuEngine downgraded Weibo from a hold rating to a sell rating in a research note on Monday, November 11th. Jefferies Financial Group raised Weibo from a hold rating to a buy rating and set a $59.00 price objective on the stock in a research note on Friday, October 18th. BidaskClub raised Weibo from a hold rating to a buy rating in a research report on Wednesday, October 16th. Nomura set a $48.00 price target on Weibo and gave the stock a hold rating in a research report on Wednesday, August 21st. Finally, Barclays set a $55.00 price target on Weibo and gave the stock a buy rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Weibo currently has an average rating of Hold and an average target price of $55.73.

Shares of WB stock traded down $1.55 during trading on Thursday, reaching $42.00. The company had a trading volume of 108,890 shares, compared to its average volume of 2,077,702. The firm’s 50 day simple moving average is $48.75 and its two-hundred day simple moving average is $46.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.58 and a quick ratio of 3.58. Weibo has a one year low of $34.26 and a one year high of $74.68. The company has a market capitalization of $9.78 billion, a PE ratio of 16.79 and a beta of 2.23.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Thursday, November 14th. The information services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. Weibo had a return on equity of 29.70% and a net margin of 31.79%. The business had revenue of $467.75 million for the quarter, compared to the consensus estimate of $471.84 million. During the same period last year, the business earned $0.75 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Analysts forecast that Weibo will post 2.38 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Private Capital Group LLC bought a new stake in shares of Weibo during the second quarter valued at approximately $36,000. Daiwa Securities Group Inc. bought a new stake in shares of Weibo during the third quarter valued at approximately $55,000. North Star Investment Management Corp. bought a new stake in shares of Weibo during the third quarter valued at approximately $85,000. Redhawk Wealth Advisors Inc. acquired a new stake in Weibo in the 2nd quarter valued at $144,000. Finally, NN Investment Partners Holdings N.V. boosted its stake in Weibo by 48.1% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 4,000 shares of the information services provider’s stock valued at $174,000 after buying an additional 1,300 shares in the last quarter. 27.41% of the stock is currently owned by institutional investors.

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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