Weibo Co. (NASDAQ:WB) Given Average Rating of “Hold” by Analysts

Shares of Weibo Co. (NASDAQ:WB) have received a consensus recommendation of “Hold” from the eight analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $10.23.

Several research firms have issued reports on WB. Benchmark restated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Citigroup upped their target price on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley reduced their price objective on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Finally, Nomura Securities upgraded Weibo to a “hold” rating in a research report on Monday, August 26th.

Weibo Stock Performance

Shares of WB stock opened at $10.31 on Wednesday. The firm’s 50 day moving average is $9.43 and its 200 day moving average is $8.52. The stock has a market capitalization of $2.41 billion, a P/E ratio of 7.06 and a beta of 0.27. Weibo has a 12 month low of $7.03 and a 12 month high of $12.40. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WB. Seven Eight Capital LP bought a new position in Weibo during the 2nd quarter valued at approximately $110,000. Creative Planning bought a new position in shares of Weibo during the third quarter valued at approximately $112,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Weibo by 17.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after acquiring an additional 1,970 shares in the last quarter. Diversified Trust Co purchased a new stake in Weibo in the third quarter worth $194,000. Finally, Franklin Resources Inc. boosted its holdings in Weibo by 16.5% in the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock valued at $266,000 after acquiring an additional 3,884 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.

Weibo Company Profile

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.