Weibo (NASDAQ:WB) Price Target Raised to $14.00

Weibo (NASDAQ:WB) had its target price boosted by Citigroup from $12.00 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Separately, Wall Street Zen downgraded Weibo from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.75.

Weibo Stock Performance

NASDAQ WB opened at $11.55 on Friday. The business’s 50-day moving average price is $9.88 and its 200 day moving average price is $9.56. Weibo has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a market capitalization of $2.80 billion, a PE ratio of 8.08 and a beta of 0.10. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.53.

Weibo (NASDAQ:WB) last released its earnings results on Thursday, August 14th. The information services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. Weibo had a return on equity of 12.74% and a net margin of 21.10%. The firm had revenue of $444.80 million for the quarter, compared to the consensus estimate of $438.84 million. During the same period in the prior year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts predict that Weibo will post 1.62 earnings per share for the current year.

Hedge Funds Weigh In On Weibo

A number of large investors have recently modified their holdings of the company. Krane Funds Advisors LLC raised its holdings in shares of Weibo by 25.1% during the 1st quarter. Krane Funds Advisors LLC now owns 4,332,687 shares of the information services provider’s stock valued at $41,031,000 after buying an additional 868,643 shares during the period. Saba Capital Management L.P. raised its holdings in shares of Weibo by 5.9% during the 4th quarter. Saba Capital Management L.P. now owns 2,359,357 shares of the information services provider’s stock valued at $22,532,000 after buying an additional 131,155 shares during the period. RPD Fund Management LLC purchased a new stake in shares of Weibo during the 4th quarter valued at about $19,115,000. Invesco Ltd. raised its holdings in shares of Weibo by 34.0% during the 4th quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider’s stock valued at $16,418,000 after buying an additional 436,215 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Weibo by 1.7% during the 1st quarter. Wellington Management Group LLP now owns 1,066,763 shares of the information services provider’s stock valued at $10,102,000 after buying an additional 18,241 shares during the period. 68.77% of the stock is currently 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, 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.