Zacks Investment Research upgraded shares of Weibo (NASDAQ:WB) from a sell rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “
WB has been the topic of a number of other reports. Morgan Stanley cut Weibo from an overweight rating to an equal weight rating in a research report on Tuesday, January 8th. Jefferies Financial Group cut Weibo from a buy rating to a hold rating and lowered their price objective for the company from $83.00 to $58.00 in a research report on Thursday, January 24th. BidaskClub upgraded Weibo from a buy rating to a strong-buy rating in a research report on Thursday, February 28th. Deutsche Bank cut Weibo from a buy rating to a hold rating in a research report on Wednesday, March 6th. Finally, ValuEngine cut Weibo from a hold rating to a sell rating in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $82.11.
Weibo (NASDAQ:WB) last issued its quarterly earnings results on Tuesday, March 5th. The information services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Weibo had a return on equity of 37.53% and a net margin of 33.27%. The company had revenue of $481.88 million during the quarter, compared to analyst estimates of $481.52 million. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities analysts anticipate that Weibo will post 2.93 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Weibo by 13.5% in the fourth quarter. BlackRock Inc. now owns 2,773,446 shares of the information services provider’s stock valued at $162,054,000 after acquiring an additional 329,944 shares during the period. Fisher Asset Management LLC bought a new stake in Weibo in the fourth quarter valued at $161,521,000. Genesis Asset Managers LLP bought a new stake in Weibo in the fourth quarter valued at $104,219,000. Vanguard Group Inc. grew its position in Weibo by 37.4% in the third quarter. Vanguard Group Inc. now owns 1,755,252 shares of the information services provider’s stock valued at $128,361,000 after acquiring an additional 477,814 shares during the period. Finally, Vanguard Group Inc grew its position in Weibo by 37.4% in the third quarter. Vanguard Group Inc now owns 1,755,252 shares of the information services provider’s stock valued at $128,361,000 after acquiring an additional 477,814 shares during the period. Institutional investors and hedge funds own 24.36% of the company’s stock.
Weibo Company Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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