Weibo’s (WB) “Hold” Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of Weibo (NASDAQ:WB) in a research note published on Wednesday,Benzinga reports.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Weibo from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Nomura Securities upgraded Weibo to a “hold” rating in a research note on Monday, August 26th. Citigroup lifted their target price on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley reduced their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.23.

Weibo Price Performance

Shares of WB opened at $8.92 on Wednesday. The company has a market capitalization of $2.09 billion, a P/E ratio of 6.13 and a beta of 0.24. Weibo has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $9.12 and a 200 day moving average of $8.52.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Weibo had a return on equity of 11.26% and a net margin of 21.30%. The business had revenue of $437.90 million during the quarter, compared to analyst estimates of $437.97 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Weibo’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that Weibo will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weibo

A number of large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Weibo by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares during the period. State Street Corp lifted its stake in Weibo by 0.7% in the third quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after acquiring an additional 6,369 shares during the period. Quadrature Capital Ltd grew its holdings in Weibo by 22.8% during the 3rd quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock worth $408,000 after acquiring an additional 7,508 shares in the last quarter. SG Americas Securities LLC increased its position in Weibo by 21.5% during the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after purchasing an additional 9,143 shares during the period. Finally, Deltec Asset Management LLC purchased a new position in Weibo during the 2nd quarter valued at about $82,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.