Weibo Co. (NASDAQ:WB – Get Free Report)’s stock price gapped down before the market opened on Friday after Bank of America lowered their price target on the stock from $24.00 to $19.50. The stock had previously closed at $13.70, but opened at $13.35. Bank of America currently has a buy rating on the stock. Weibo shares last traded at $12.64, with a volume of 290,946 shares.
Several other analysts have also issued reports on WB. HSBC reduced their target price on Weibo from $18.00 to $14.60 in a report on Friday. 58.com restated a “downgrade” rating on shares of Weibo in a research report on Tuesday, June 13th. StockNews.com began coverage on Weibo in a report on Thursday, August 17th. They issued a “buy” rating for the company. Benchmark downgraded Weibo from a “buy” rating to a “hold” rating in a report on Friday. Finally, UBS Group cut Weibo from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $15.50 in a research note on Tuesday, June 13th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.46.
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Institutional Inflows and Outflows
Weibo Stock Down 8.8 %
The company has a debt-to-equity ratio of 0.71, a current ratio of 4.09 and a quick ratio of 4.09. The company has a 50-day moving average of $13.79 and a two-hundred day moving average of $16.31. The company has a market capitalization of $2.93 billion, a PE ratio of 11.67 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 (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. Weibo had a return on equity of 12.30% and a net margin of 14.36%. The firm had revenue of $440.20 million for the quarter, compared to analysts’ expectations of $442.66 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Weibo Co. will post 1.7 earnings per share for the current fiscal year.
About Weibo
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.
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