Weibo Corporation (WB) Coverage Initiated at Instinet

Equities research analysts at Instinet initiated coverage on shares of Weibo Corporation (NASDAQ:WB) in a research report issued on Monday. The brokerage set a “buy” rating and a $63.00 price target on the stock. Instinet’s price objective would indicate a potential upside of 14.82% from the stock’s previous close.

Several other brokerages have also commented on WB. Zacks Investment Research lowered Weibo Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of Weibo Corporation in a research note on Wednesday, October 26th. Jefferies Group LLC set a $60.00 price target on Weibo Corporation and gave the company a “buy” rating in a research note on Tuesday, November 22nd. CLSA started coverage on Weibo Corporation in a research note on Monday, December 12th. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Vetr raised Weibo Corporation from a “buy” rating to a “strong-buy” rating and set a $84.50 price target on the stock in a research note on Monday, December 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Weibo Corporation presently has a consensus rating of “Buy” and a consensus price target of $55.45.

Analyst Recommendations for Weibo Corporation (NASDAQ:WB)

Weibo Corporation (NASDAQ:WB) opened at 54.87 on Monday. The firm has a 50-day moving average price of $47.41 and a 200 day moving average price of $47.17. Weibo Corporation has a 1-year low of $13.74 and a 1-year high of $55.93. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 144.39 and a beta of 2.66.

Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings results on Monday, November 21st. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Weibo Corporation had a return on equity of 12.79% and a net margin of 14.22%. The business had revenue of $176.90 million for the quarter, compared to analyst estimates of $173.19 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was up 41.8% on a year-over-year basis. On average, equities research analysts anticipate that Weibo Corporation will post $0.76 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of WB. Acadian Asset Management LLC raised its position in Weibo Corporation by 131.4% in the third quarter. Acadian Asset Management LLC now owns 1,131,882 shares of the company’s stock valued at $56,752,000 after buying an additional 642,691 shares during the last quarter. Wells Fargo & Company MN raised its stake in Weibo Corporation by 2.7% in the third quarter. Wells Fargo & Company MN now owns 3,017,638 shares of the company’s stock worth $151,305,000 after buying an additional 79,178 shares in the last quarter. Emerald Acquisition Ltd. raised its stake in Weibo Corporation by 35.6% in the third quarter. Emerald Acquisition Ltd. now owns 374,824 shares of the company’s stock worth $19,049,000 after buying an additional 98,415 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Weibo Corporation during the third quarter worth about $13,544,000. Finally, Navellier & Associates Inc bought a new stake in Weibo Corporation during the third quarter worth about $4,762,000. 16.58% of the stock is currently owned by hedge funds and other institutional investors.

About Weibo Corporation

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

5 Day Chart for NASDAQ:WB

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