Brokerages expect Weibo Corp (NASDAQ:WB) to announce sales of $364.31 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Weibo’s earnings. The highest sales estimate is $365.00 million and the lowest is $363.61 million. Weibo reported sales of $212.75 million in the same quarter last year, which indicates a positive year over year growth rate of 71.2%. The firm is expected to issue its next earnings report on Wednesday, February 28th.
On average, analysts expect that Weibo will report full-year sales of $364.31 million for the current financial year. For the next year, analysts forecast that the company will report sales of $1.78 billion per share, with estimates ranging from $1.75 billion to $1.82 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Weibo.
Weibo (NASDAQ:WB) last issued its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The business had revenue of $320.00 million for the quarter, compared to analyst estimates of $297.20 million. Weibo had a net margin of 26.85% and a return on equity of 30.00%. Weibo’s revenue was up 80.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share.
WB has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Weibo from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Tuesday, November 14th. Benchmark dropped their price target on shares of Weibo from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. BidaskClub downgraded shares of Weibo from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Barclays raised their price objective on shares of Weibo from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Finally, ValuEngine downgraded shares of Weibo from a “hold” rating to a “sell” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Weibo has a consensus rating of “Buy” and an average price target of $97.31.
Weibo (WB) traded up $2.19 during trading on Friday, hitting $107.72. 1,237,900 shares of the company’s stock were exchanged, compared to its average volume of 2,011,837. Weibo has a 12-month low of $40.12 and a 12-month high of $123.00. The company has a market capitalization of $23,345.03, a price-to-earnings ratio of 89.43 and a beta of 2.54.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Weibo by 40.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock valued at $708,000 after purchasing an additional 3,045 shares during the period. Nicholas Investment Partners LP purchased a new position in Weibo during the 2nd quarter valued at $3,222,000. BT Investment Management Ltd purchased a new stake in shares of Weibo in the 2nd quarter worth about $63,749,000. Crawford Lake Capital Management LLC purchased a new stake in shares of Weibo in the 2nd quarter worth about $5,018,000. Finally, Vanguard Group Inc. grew its position in shares of Weibo by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 165,119 shares of the information services provider’s stock worth $8,616,000 after buying an additional 4,195 shares during the period. Hedge funds and other institutional investors own 21.95% of the company’s stock.
Weibo Company Profile
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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