Weibo (WB) Downgraded by HSBC to “Reduce”

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HSBC cut shares of Weibo (NASDAQ:WB) from a hold rating to a reduce rating in a research note issued to investors on Friday, Benzinga reports. They currently have $45.54 price target on the information services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. OTR Global cut shares of Weibo to a positive rating in a research report on Tuesday, February 19th. Jefferies Financial Group cut shares of Weibo from a buy rating to a hold rating and cut their price objective for the stock from $83.00 to $58.00 in a research report on Thursday, January 24th. Credit Suisse Group began coverage on shares of Weibo in a research report on Monday, February 4th. They set an outperform rating and a $72.00 price objective for the company. Citigroup cut shares of Weibo from a buy rating to a hold rating in a research report on Wednesday, March 6th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Weibo from a hold rating to a buy rating in a research report on Monday, February 4th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $70.17.

Shares of Weibo stock opened at $43.66 on Friday. The stock has a market capitalization of $9.72 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 0.85 and a beta of 2.03. Weibo has a 52-week low of $42.70 and a 52-week high of $112.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.92 and a quick ratio of 3.92.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, May 23rd. The information services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.06. The company had revenue of $399.18 million during the quarter, compared to analysts’ expectations of $399.65 million. Weibo had a net margin of 33.27% and a return on equity of 37.53%. Weibo’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. As a group, analysts anticipate that Weibo will post 2.93 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of WB. Legal & General Group Plc raised its stake in Weibo by 24.7% during the third quarter. Legal & General Group Plc now owns 255,283 shares of the information services provider’s stock worth $18,668,000 after acquiring an additional 50,617 shares in the last quarter. Vanguard Group Inc. raised its stake in Weibo by 37.4% during the third quarter. Vanguard Group Inc. now owns 1,755,252 shares of the information services provider’s stock worth $128,361,000 after acquiring an additional 477,814 shares in the last quarter. Bank of Montreal Can raised its stake in Weibo by 37.0% during the fourth quarter. Bank of Montreal Can now owns 53,447 shares of the information services provider’s stock worth $3,123,000 after acquiring an additional 14,424 shares in the last quarter. BB&T Corp raised its stake in Weibo by 12.5% during the fourth quarter. BB&T Corp now owns 11,797 shares of the information services provider’s stock worth $690,000 after acquiring an additional 1,311 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Weibo during the fourth quarter worth about $161,521,000. 26.47% of the stock is owned by hedge funds and other institutional investors.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in 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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Analyst Recommendations for Weibo (NASDAQ:WB)

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