Weibo (WB) Shares Down 1.8%

Weibo Corp (NASDAQ:WB)’s share price traded down 1.8% during trading on Friday . The company traded as low as $123.10 and last traded at $122.58. 1,587,077 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 1,942,281 shares. The stock had previously closed at $124.81.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. JPMorgan Chase & Co. upped their target price on shares of Weibo from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. BidaskClub upgraded shares of Weibo from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Jefferies Group increased their price objective on shares of Weibo to $160.00 and gave the company a “buy” rating in a research note on Tuesday, March 13th. Finally, Barclays reiterated an “overweight” rating and set a $150.00 price objective on shares of Weibo in a research note on Wednesday, February 14th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $124.50.

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The company has a current ratio of 4.22, a quick ratio of 2.23 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $29,674.05, a PE ratio of 78.25 and a beta of 2.57.

Weibo (NASDAQ:WB) last posted its earnings results on Tuesday, February 13th. The information services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. Weibo had a net margin of 30.66% and a return on equity of 35.57%. The company had revenue of $377.40 million during the quarter, compared to analysts’ expectations of $362.04 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. Weibo’s revenue for the quarter was up 77.4% compared to the same quarter last year. equities research analysts anticipate that Weibo Corp will post 2.58 EPS for the current year.

A number of large investors have recently bought and sold shares of WB. Harding Loevner LP lifted its position in Weibo by 2,621.2% during the third quarter. Harding Loevner LP now owns 95,403,043 shares of the information services provider’s stock valued at $476,760,000 after acquiring an additional 91,897,142 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Weibo by 31.1% in the third quarter. Schroder Investment Management Group now owns 2,300,656 shares of the information services provider’s stock worth $225,672,000 after buying an additional 545,683 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Weibo by 15.0% in the fourth quarter. BlackRock Inc. now owns 3,251,990 shares of the information services provider’s stock worth $336,452,000 after buying an additional 425,313 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Weibo by 16.0% in the fourth quarter. Acadian Asset Management LLC now owns 1,994,583 shares of the information services provider’s stock worth $206,361,000 after buying an additional 274,466 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Weibo by 2,256.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 279,287 shares of the information services provider’s stock worth $28,894,000 after buying an additional 267,433 shares during the last quarter. 22.40% of the stock is owned by institutional investors.

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About Weibo

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.

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