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.
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.
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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