Weibo (WB) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of Weibo (NASDAQ:WB) from a strong sell rating to a sell rating in a research report released on Thursday morning.

WB has been the topic of a number of other reports. OTR Global initiated coverage on shares of Weibo in a research note on Monday, August 6th. They set a positive rating on the stock. Barclays restated a buy rating and set a $130.00 price objective (down from $150.00) on shares of Weibo in a research note on Sunday, July 29th. BidaskClub cut shares of Weibo from a sell rating to a strong sell rating in a research note on Saturday, August 18th. JPMorgan Chase & Co. initiated coverage on shares of Weibo in a research note on Wednesday, August 29th. They set an overweight rating and a $118.00 price objective on the stock. Finally, Jefferies Financial Group cut their price objective on shares of Weibo from $145.00 to $140.00 and set a buy rating on the stock in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $126.00.

Shares of NASDAQ WB opened at $64.75 on Thursday. Weibo has a fifty-two week low of $53.11 and a fifty-two week high of $142.12. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.61. The stock has a market cap of $14.32 billion, a P/E ratio of 30.98 and a beta of 2.41.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Weibo had a net margin of 32.03% and a return on equity of 37.75%. The business had revenue of $426.60 million for the quarter, compared to analysts’ expectations of $426.54 million. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s revenue was up 68.4% on a year-over-year basis. As a group, analysts predict that Weibo will post 2.49 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. BB&T Corp increased its stake in Weibo by 6.7% in the 2nd quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock worth $947,000 after purchasing an additional 667 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in Weibo by 8.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,643 shares of the information services provider’s stock worth $767,000 after purchasing an additional 700 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Weibo by 43.8% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock worth $204,000 after purchasing an additional 700 shares in the last quarter. Andra AP fonden increased its stake in Weibo by 1.7% in the 2nd quarter. Andra AP fonden now owns 41,700 shares of the information services provider’s stock worth $3,701,000 after purchasing an additional 700 shares in the last quarter. Finally, Dorsey Wright & Associates increased its stake in Weibo by 7.1% in the 2nd quarter. Dorsey Wright & Associates now owns 11,492 shares of the information services provider’s stock worth $1,014,000 after purchasing an additional 761 shares in the last quarter. Hedge funds and other institutional investors own 24.17% of the company’s stock.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through 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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Analyst Recommendations for Weibo (NASDAQ:WB)

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