Benchmark Reaffirms “Hold” Rating for Weibo (NASDAQ:WB)

Weibo (NASDAQ:WB)‘s stock had its “hold” rating reiterated by equities researchers at Benchmark in a research report issued on Wednesday,Benzinga reports.

A number of other analysts have also recently weighed in on the stock. Nomura Securities upgraded shares of Weibo to a “hold” rating in a research note on Monday, August 26th. Citigroup upped their target price on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th. StockNews.com lowered shares of Weibo from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Morgan Stanley reduced their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.23.

Weibo Stock Performance

Shares of NASDAQ WB opened at $8.97 on Wednesday. Weibo has a one year low of $7.03 and a one year high of $12.40. The business’s 50-day moving average price is $9.08 and its two-hundred day moving average price is $8.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $2.10 billion, a P/E ratio of 6.10 and a beta of 0.24.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.38 by $0.10. The company had revenue of $437.90 million for the quarter, compared to analyst estimates of $437.97 million. Weibo had a net margin of 21.30% and a return on equity of 11.26%. Weibo’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Analysts anticipate that Weibo will post 1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weibo

Institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares in the last quarter. State Street Corp boosted its stake in shares of Weibo by 0.7% during the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after buying an additional 6,369 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Weibo by 22.8% in the 3rd quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 7,508 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Weibo by 21.5% in the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after acquiring an additional 9,143 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new stake in shares of Weibo in the second quarter valued at about $82,000. 68.77% of the stock is owned by institutional investors.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.