Weibo Corp (WB) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Weibo Corp (NASDAQ:WB) from a hold rating to a strong-buy rating in a report released on Saturday morning. They currently have $91.00 price objective on the information services provider’s stock.

According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “

WB has been the topic of several other reports. Barclays PLC initiated coverage on shares of Weibo Corp in a research note on Tuesday, March 28th. They set an overweight rating and a $66.00 target price on the stock. Jefferies Group LLC boosted their target price on shares of Weibo Corp to $67.00 and gave the company a buy rating in a research note on Wednesday, March 1st. TheStreet raised shares of Weibo Corp from a c rating to a b- rating in a research note on Monday, April 17th. T.H. Capital reissued a buy rating and set a $70.00 target price (up from $60.00) on shares of Weibo Corp in a research note on Tuesday, May 9th. Finally, Instinet initiated coverage on shares of Weibo Corp in a research note on Monday, February 13th. They set a buy rating and a $63.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Weibo Corp has a consensus rating of Buy and a consensus target price of $66.95.

Analyst Recommendations for Weibo Corp (NASDAQ:WB)

Shares of Weibo Corp (NASDAQ:WB) opened at 78.31 on Friday. The stock has a 50 day moving average price of $57.01 and a 200-day moving average price of $50.31. The stock has a market cap of $16.23 billion, a P/E ratio of 119.01 and a beta of 2.66. Weibo Corp has a 12 month low of $23.00 and a 12 month high of $82.28.

Weibo Corp (NASDAQ:WB) last announced its quarterly earnings data on Tuesday, May 16th. The information services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. Weibo Corp had a return on equity of 12.79% and a net margin of 14.22%. The company had revenue of $199.20 million during the quarter, compared to the consensus estimate of $188.29 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 67.0% compared to the same quarter last year. On average, analysts forecast that Weibo Corp will post $1.47 EPS for the current fiscal year.

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Several institutional investors have recently bought and sold shares of WB. Shell Asset Management Co. increased its position in Weibo Corp by 0.3% in the first quarter. Shell Asset Management Co. now owns 11,255 shares of the information services provider’s stock worth $587,000 after buying an additional 29 shares during the period. 1st Global Advisors Inc. increased its position in Weibo Corp by 0.4% in the first quarter. 1st Global Advisors Inc. now owns 8,294 shares of the information services provider’s stock worth $433,000 after buying an additional 34 shares during the period. Comerica Bank increased its position in Weibo Corp by 1.7% in the first quarter. Comerica Bank now owns 5,713 shares of the information services provider’s stock worth $316,000 after buying an additional 95 shares during the period. Alta Advisers Ltd increased its position in Weibo Corp by 5.0% in the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock worth $110,000 after buying an additional 100 shares during the period. Finally, World Asset Management Inc increased its position in Weibo Corp by 4.1% in the first quarter. World Asset Management Inc now owns 6,209 shares of the information services provider’s stock worth $324,000 after buying an additional 245 shares during the period. 16.58% of the stock is currently owned by institutional investors and hedge funds.

Weibo Corp Company Profile

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

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