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

Weibo Co. (NASDAQ:WB) has received an average recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.28.

Several equities analysts have weighed in on WB shares. Citigroup lifted their price objective on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th.

Weibo Stock Down 2.6 %

Shares of WB opened at $8.88 on Friday. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51. Weibo has a 12 month low of $7.03 and a 12 month high of $12.40. The firm’s 50 day moving average is $9.42 and its 200-day moving average is $8.73. The stock has a market capitalization of $2.08 billion, a PE ratio of 6.08 and a beta of 0.26.

Institutional Investors Weigh In On Weibo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after purchasing an additional 1,634,230 shares during the last quarter. Headlands Technologies LLC bought a new stake in Weibo during the 2nd quarter worth approximately $1,398,000. Krane Funds Advisors LLC increased its position in Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock valued at $29,213,000 after acquiring an additional 564,068 shares during the period. Hsbc Holdings PLC increased its position in Weibo by 42.1% in the 2nd quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider’s stock valued at $460,000 after acquiring an additional 17,749 shares during the period. Finally, Seven Eight Capital LP bought a new position in shares of Weibo during the second quarter valued at $110,000. 68.77% of the stock is owned by institutional investors.

Weibo Company Profile

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.