Weibo Co. (NASDAQ:WB) Receives $10.23 Consensus Target Price from Analysts

Weibo Co. (NASDAQ:WB) has received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $10.23.

WB has been the topic of several research reports. Benchmark restated a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Nomura Securities raised shares of Weibo to a “hold” rating in a research note on Monday, August 26th. Morgan Stanley reduced their price objective on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, Citigroup raised their target price on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th.

Institutional Trading of Weibo

Institutional investors have recently bought and sold shares of the company. Seven Eight Capital LP acquired a new position in Weibo in the second quarter valued at approximately $110,000. Creative Planning bought a new stake in shares of Weibo in the 3rd quarter valued at $112,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Weibo by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after acquiring an additional 1,970 shares during the period. Diversified Trust Co bought a new position in Weibo during the third quarter worth $194,000. Finally, Franklin Resources Inc. grew its holdings in Weibo by 16.5% in the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock worth $266,000 after purchasing an additional 3,884 shares during the period. Institutional investors own 68.77% of the company’s stock.

Weibo Price Performance

Shares of WB opened at $10.46 on Wednesday. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.45 billion, a PE ratio of 7.16 and a beta of 0.27. Weibo has a 12-month low of $7.03 and a 12-month high of $12.40. The business has a 50-day simple moving average of $9.35 and a two-hundred day simple moving average of $8.56.

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.