BidaskClub upgraded shares of Weibo (NASDAQ:WB) from a sell rating to a hold rating in a report released on Friday, BidAskClub reports.

A number of other analysts have also recently commented on WB. Nomura Instinet reduced their price objective on Weibo from $43.00 to $41.00 and set a neutral rating for the company in a research report on Thursday, May 21st. Benchmark reduced their price objective on Weibo from $51.00 to $50.00 and set a buy rating for the company in a research report on Thursday, February 27th. HSBC reduced their price objective on Weibo from $38.00 to $34.50 and set a reduce rating for the company in a research report on Wednesday, May 20th. Barclays cut Weibo from an overweight rating to an equal weight rating and reduced their price objective for the company from $47.00 to $40.00 in a research report on Wednesday, April 22nd. Finally, UBS Group reduced their price objective on Weibo from $46.50 to $45.50 and set a neutral rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $46.50.

NASDAQ:WB traded up $0.86 during trading hours on Friday, reaching $34.40. 1,408,260 shares of the company traded hands, compared to its average volume of 2,275,668. The business’s 50-day moving average price is $34.42 and its two-hundred day moving average price is $40.32. The stock has a market capitalization of $7.55 billion, a P/E ratio of 19.66 and a beta of 1.70. Weibo has a 1 year low of $28.93 and a 1 year 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.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Tuesday, May 19th. The information services provider reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 quarter in the previous year, the business earned $0.56 earnings per share. The company’s revenue was down 19.0% on a year-over-year basis. As a group, equities analysts anticipate that Weibo will post 1.91 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARGA Investment Management LP bought a new position in Weibo during the first quarter valued at approximately $35,715,000. Half Sky Capital UK Ltd boosted its stake in Weibo by 2,715.2% during the fourth quarter. Half Sky Capital UK Ltd now owns 844,571 shares of the information services provider’s stock valued at $39,145,000 after buying an additional 814,571 shares during the last quarter. Norges Bank bought a new position in Weibo during the fourth quarter valued at approximately $20,448,000. Invesco Ltd. boosted its stake in Weibo by 10.1% during the first quarter. Invesco Ltd. now owns 3,980,720 shares of the information services provider’s stock valued at $131,802,000 after buying an additional 366,282 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its stake in Weibo by 33.0% during the first quarter. Krane Funds Advisors LLC now owns 988,310 shares of the information services provider’s stock valued at $32,723,000 after buying an additional 245,218 shares during the last quarter. 25.72% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Analyst Recommendations for Weibo (NASDAQ:WB)

Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.