Weibo Corp (WB) Downgraded by Zacks Investment Research

Paterniano Del Favero
Mag 20, 2017

The stock of Weibo Corp (ADR) (NASDAQ:WB) hit a new 52-week high and has $82.65 target or 6.00 % above today's $77.97 share price. The firm now has a $85.00 price objective on the information services provider's stock, up from their prior price objective of $66.00.

Other equities research analysts also recently issued reports about the company. T.H. Capital reissued a "buy" rating and issued a $70.00 price target (up previously from $60.00) on shares of Weibo Corp in a research note on Tuesday, May 9th. Benchmark Co. initiated coverage on shares of Weibo Corp in a research report on Tuesday, April 18th. They set a buy rating and a $65.00 price target for the company. Jefferies Group LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Weibo Corp in a research report on Tuesday, March 28th. Instinet started coverage on Weibo Corp in a report on Monday, February 13th. They set a "buy" rating and a $63.00 target price for the company. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. They issued an "overweight" rating and a $66.00 target price for the company.

Shares of Weibo Corp (NASDAQ:WB) traded up 2.82% during midday trading on Thursday, reaching $76.91.

The counter witnessed a trading volume of 0.53 million shares versus an average volume of 0.3 million shares during last trading session.

The stock's 50 day moving average is 56.27 and its 200 day moving average is 50.07. The company has a market capitalization of $15.94 billion, a P/E ratio of 116.88 and a beta of 2.66.

Weibo Corporation (WB) performance during the last one year Improved 238.5 percent, while its year to date (YTD) performance showed a Positive trend of 94.68 percent.

Looking forward, the company is expected to report earnings of $0.32 per share for the current quarter. The firm had revenue of $199.20 million for the quarter, compared to the consensus estimate of $188.29 million. Weibo Corp had a net margin of 14.22% and a return on equity of 12.79%. The business's revenue for the quarter was up 67.0% on a year-over-year basis. On average, equities research analysts expect that Weibo Corp will post $1.44 earnings per share for the current year. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & global trademark and copyright laws. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/05/18/weibo-corp-wb-upgraded-by-zacks-investment-research-to-buy-updated-updated.html.

Several hedge funds and other institutional investors have recently modified their holdings of WB. Alta Advisers Ltd raised its stake in Weibo Corp by 5.0% in the first quarter. Alpha One also gave headlines about the information services provider an impact score of 20 out of 100, meaning that recent media coverage is very unlikely to have an impact on the company's share price in the next few days. Wells Fargo & Company MN increased its stake in Weibo Corp by 2.7% in the third quarter. State Street Corp now owns 449,048 shares of the information services provider's stock worth $18,232,000 after buying an additional 376,908 shares during the last quarter. Tiger Pacific Capital LP purchased a new position in shares of Weibo Corp during the third quarter valued at $4,677,000. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

Weibo Corp Company Profile Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. It operates in two divisions: advertising and marketing services and other services.

Altre relazioni OverNewsmagazine

Discuti questo articolo

SEGUI I NOSTRI GIORNALE