Weibo Corporation (NASDAQ:WB) Stock Rated “Reduce” by Sell-Side Brokerages

Shares of Weibo Corporation (NASDAQ:WB) have been assigned a consensus rating of “Reduce” from the six brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $8.80.

WB has been the topic of several research reports. Zacks Research downgraded shares of Weibo from a “hold” rating to a “strong sell” rating in a report on Thursday, September 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Weibo in a research note on Friday, July 24th. Benchmark restated a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. Bank of America reaffirmed an “underperform” rating on shares of Weibo in a report on Friday, August 21st. Finally, Citigroup downgraded shares of Weibo from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $9.30 to $7.80 in a report on Thursday, August 20th.

Weibo Stock Up 0.2%

WB stock opened at $6.56 on Friday. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.61 billion, a PE ratio of 5.03 and a beta of 0.17. Weibo has a 1-year low of $6.27 and a 1-year high of $11.72. The business’s 50 day simple moving average is $6.91 and its 200 day simple moving average is $7.66.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Weibo had a return on equity of 8.87% and a net margin of 17.78%. The business had revenue of $453.83 million for the quarter, compared to analysts’ expectations of $442.45 million. As a group, research analysts anticipate that Weibo will post 1.02 EPS for the current year.

Institutional Investors Weigh In On Weibo

Several hedge funds have recently bought and sold shares of WB. QRG Capital Management Inc. grew its position in shares of Weibo by 15.2% in the second quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock valued at $170,000 after purchasing an additional 3,090 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Weibo during the second quarter worth approximately $208,000. Squarepoint Ops LLC lifted its holdings in Weibo by 55.0% during the 2nd quarter. Squarepoint Ops LLC now owns 101,006 shares of the information services provider’s stock worth $733,000 after purchasing an additional 35,831 shares during the last quarter. Nykredit A S acquired a new stake in Weibo during the 2nd quarter worth approximately $93,000. Finally, Headlands Technologies LLC lifted its holdings in Weibo by 150.0% during the 2nd quarter. Headlands Technologies LLC now owns 119,350 shares of the information services provider’s stock worth $866,000 after purchasing an additional 71,607 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Weibo Company Profile

Weibo Corp. (NASDAQ: WB) operates a Chinese-language social media platform that enables users to create, share and discover content through short posts, videos, images, live streams and other multimedia formats. The platform supports public conversations, following relationships, trending topics and content distribution across entertainment, news, sports, technology and other categories.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and brand campaigns.