Weibo Co. (NASDAQ:WB) Receives $10.23 Consensus PT from Brokerages

Shares of Weibo Co. (NASDAQ:WB) have been given an average rating of “Hold” by the eight research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.23.

WB has been the topic of a number of research reports. Citigroup boosted their target price on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark restated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Krane Funds Advisors LLC grew its stake in Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after acquiring an additional 564,068 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after purchasing an additional 1,634,230 shares during the period. Canada Pension Plan Investment Board grew its stake in Weibo by 64.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after purchasing an additional 511,248 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Weibo by 1.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,153,088 shares of the information services provider’s stock worth $11,623,000 after purchasing an additional 19,200 shares during the period. Finally, State Street Corp raised its position in Weibo by 0.7% during the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock valued at $9,392,000 after purchasing an additional 6,369 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.

Weibo Trading Up 1.9 %

Shares of WB opened at $9.28 on Friday. The stock has a market capitalization of $2.17 billion, a PE ratio of 6.36 and a beta of 0.26. The company’s fifty day moving average is $9.42 and its 200 day moving average is $8.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. Weibo has a fifty-two week low of $7.03 and a fifty-two week high of $12.40.

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.