Weibo (NASDAQ:WB) Price Target Cut to $19.50 by Analysts at Bank of America

Weibo (NASDAQ:WB – Free Report) had its target price lowered by Bank of America from $24.00 to $19.50 in a research note issued to investors on Friday, MarketBeat reports. Bank of America currently has a buy rating on the information services provider’s stock.

A number of other equities analysts have also commented on the company. Citigroup dropped their price target on Weibo from $20.00 to $18.00 and set a buy rating for the company in a research note on Friday. HSBC lowered their target price on Weibo from $18.00 to $14.60 in a research report on Friday. StockNews.com initiated coverage on shares of Weibo in a research report on Thursday, August 17th. They issued a buy rating on the stock. Benchmark cut shares of Weibo from a buy rating to a hold rating in a research note on Friday. Finally, 58.com restated a downgrade rating on shares of Weibo in a research report on Tuesday, June 13th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $22.46.

Get Weibo alerts:

Check Out Our Latest Analysis on WB

Weibo Trading Down 8.8 %

WB stock opened at $12.49 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.09 and a quick ratio of 4.09. Weibo has a 1-year low of $10.02 and a 1-year high of $25.57. The business has a 50 day simple moving average of $13.79 and a two-hundred day simple moving average of $16.31. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 9.68 and a beta of 0.55.

Weibo (NASDAQ:WB – Get Free Report) last issued its earnings results on Thursday, August 24th. The information services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $440.20 million during the quarter, compared to analyst estimates of $442.66 million. Weibo had a net margin of 17.47% and a return on equity of 13.03%. Weibo’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. Research analysts anticipate that Weibo will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Weibo

A number of large investors have recently made changes to their positions in WB. Advisor Group Holdings Inc. boosted its stake in shares of Weibo by 88.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock worth $35,000 after purchasing an additional 651 shares during the period. Ronald Blue Trust Inc. boosted its position in Weibo by 553.1% in the 1st quarter. Ronald Blue Trust Inc. now owns 2,018 shares of the information services provider’s stock valued at $39,000 after buying an additional 1,709 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in Weibo in the 1st quarter valued at about $40,000. Point72 Asset Management L.P. purchased a new stake in Weibo in the 2nd quarter valued at about $50,000. Finally, Osaic Holdings Inc. boosted its position in Weibo by 16.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,113 shares of the information services provider’s stock valued at $87,000 after buying an additional 1,022 shares during the period. 29.94% of the stock is owned by hedge funds and other institutional investors.

Weibo Company Profile

(Get Free Report)

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.

Recommended Stories

• Five stocks we like better than Weibo
• How to Know if a Stock Pays Dividends and When They Are Paid Out
• One of these 5 Pet Care Stocks Can Be the Next Short Squeeze
• 5 Top Rated Dividend Stocks to Consider
• 3 High Short Interest Stocks that Investors are Getting Wrong
• Dividend Screener: How to Evaluate Dividend Stocks Before Buying
• Retail Theft Rises: Two Ways For Investors To Beat Shrinkage

Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.