Weibo (NASDAQ:WB) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Weibo (NASDAQ:WB) from a hold rating to a sell rating in a research note published on Friday morning, Zacks.com reports.

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 subject of a number of other reports. Benchmark cut their price objective on Weibo from $51.00 to $50.00 and set a buy rating for the company in a report on Thursday, February 27th. BidaskClub raised Weibo from a sell rating to a hold rating in a research note on Friday, June 5th. ValuEngine lowered Weibo from a buy rating to a hold rating in a research note on Thursday, April 2nd. Barclays lowered Weibo from an overweight rating to an equal weight rating and lowered their target price for the company from $47.00 to $40.00 in a research note on Wednesday, April 22nd. Finally, HSBC lowered their target price on Weibo from $38.00 to $34.50 and set a reduce rating for the company in a research note on Wednesday, May 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Weibo presently has a consensus rating of Hold and an average target price of $46.00.

WB opened at $34.04 on Friday. The stock has a 50-day moving average price of $33.32 and a 200-day moving average price of $39.24. Weibo has a 12-month low of $28.93 and a 12-month high of $55.52. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $7.57 billion, a P/E ratio of 19.45 and a beta of 1.70.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Tuesday, May 19th. The information services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Weibo had a return on equity of 18.14% and a net margin of 23.44%. The firm had revenue of $323.40 million during the quarter, compared to analysts’ expectations of $315.02 million. During the same period in the prior year, the business earned $0.56 EPS. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. On average, equities research analysts predict that Weibo will post 1.9 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in Weibo by 222.3% during the 1st quarter. Parallel Advisors LLC now owns 767 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 529 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in Weibo during the 1st quarter valued at approximately $55,000. Tower Research Capital LLC TRC raised its position in Weibo by 525.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,182 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 1,833 shares during the last quarter. Korea Investment CORP bought a new position in Weibo during the 4th quarter valued at approximately $232,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Weibo by 5.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,291 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 295 shares during the last quarter. 25.72% of the stock is owned by institutional investors and hedge funds.

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 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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